With coming up of Modi in power in 2014, real estate marked a new epoch in the history of independent India. Implementation of different policies by ‘Modi Sarkar’ disparaged investment into real estate by black money hoarders, which was once considered as the ‘paradise of investment’ for them. This directly benefited genuine homebuyers and long-term investors.
The Modi government focussed on all-around development of the real estate market. It introduced many policies and schemes which affected real estate positively. Policies like Demonetization, RERA, GST and a number of schemes like 100 smart City, housing for all by 2022, Make in India, AMRUT cities, fostered overall infrastructure development.
Increase in housing sales by 58% Q1 of 2019 over the last Quarter of 2018 (ANAROCK) suggests its augmentation, warranting re-established interest in affordable housing. Moreover, the Modi 2.0 government will ensure the completion of policies and schemes introduced during Modi 1.0. For instance – Housing for all by 2022.
Just after the exit poll results were made public by media, Stock Market recorded the highest increase over the last decade. This indicated the trust and support of traders and investors in Modi and his policies and schemes. Implementation of all-embracing policies and positive changes brought by the Modi government will promote the investors and buyers to overcome the issues in real estate.
Nevertheless, Modi 1.0 was a testing ground for Real Estate landscape and Modi 2.0 is going to be a challenge. Stalled and delayed housing projects, a pile of unsold stock across cities and high property prices which remain unreachable for the largest part of the Indian population, which remains a challenge for the government even now. With the strong will of the Modi government, these problems will be resolved soon and thus giving new hope of light to the real estate.