Realty developers banking on post-election stable govt

The real estate industry, which has been going through a rough patch for the last few years, believes that a stable government after the ongoing national elections will revive the investment sentiment, a report said.
"The real estate sector is holding its breath for the potential optimism which is expected to boost investment sentiments. The next government's economic and employment policies will be key drivers to growth in the real estate sector for the next five years," Jones Lang LaSalle's Ramesh Nair said in a report.
"The business community is looking at a stable government with a new Prime Minister and a new Finance Minister. As an industry, we have been bringing to fore the need to address the issue of housing on a war-footing.

"The new Prime Minister and Finance Minister will decide the future and we expect positive things to take place in the coming years," Rustomjee group chairman Boman Irani said.
According to experts, investment sentiment in the realty sector is likely to improve post-elections.
The country received less than 1 per cent of total USD 130 billion invested in the real estate sector in the Asia Pacific region in 2013.
"Fence-sitting investors and home buyers will remain spectators during this election season. Election results do not make or break a market, but they are likely to reinstate confidence and uplift home buyers' sentiment. Post-elections, if the road to recovery is unhindered, property buyers may very well re-enter the market in good numbers," Nair said.