The realty industry welcomed the clean sweep victory of Narendra Modi-led NDA and expressed hope that the new government would fulfil its promise of housing for all by 2022, giving a push to the economy and employment generation.
"Credai would like to wholeheartedly congratulate Narendra Modi and BJP for the resounding success in the 2019 general elections. With BJP voted back to power, we expect the housing industry to continue its revival and provide a strong platform to the Indian economy at this critical juncture," Credai National President Satish Magar said.
Credai National Chairman Jaxay Shah opined that Modi-led government had risked every reform be it RERA, demonetisation, bankruptcy code or GST, but the unprecedented vote share got by the BJP signifies the party's emergence as a multi-cultural one.
"The people of India have whole-heartedly and overwhelmingly voted back the BJP with a clear mandate. I am personally pleased that the Government which has promised houses for All by 2022 has a chance to redeem its promise," he said.
Naredco National President Niranjan Hiranandani said, "our hearty congratulations to the new government Modi 2.0 and we look forward to the continuity of the progressive policies that were initiated in the past five years. We believe the new government works further for the structural reforms and steps that will boost real estate business and strengthen consumer sentiment towards Indian real estate."
Ananrock Property Consultants Chairman Anuj Puri said that with Modi 2.0, the industry can expect the steady momentum that the real estate sector has been regaining in recent times to not only maintain its pace but pick up speed.
"Some of this government's initiatives will now doubtlessly sail through to the final stage of their journey. Modi's mission of housing for all could now actually see fruition, if not by 2022, then at least towards the end of this new five-year term," he said.
JLL India CEO and Country Head Ramesh Nair said the real estate sector has now high hopes from the new government that has come to power with thumping victory.
"On the back of robust policy measures implemented over the last five years, we expect the growth momentum in the real estate sector to continue. The continuity of reforms for the next five years is sure to auger well for the economy and real estate sector," he said.
Knight Frank India CMD Shishir Baijal said a majority government is a strong point for economic growth as it instills confidence of continuance and unhindered policy decisions.
"With the second term, we expect the government to continue with its growth policies including the infrastructure development," he said.
Tata Realty & Infrastructure MD and CEO opined the election results is good news for the real estate sector.
"We witnessed significant movement in the infrastructure and real estate sector along with the rise in GDP that resulted in job opportunities and confidence in the real estate sector. With the stability in the government, we expect investments to increase and private equity will play a larger role," he said.
Echoing the views, Omaxe CEO Mohit Goel said the majority in Lok Sabha will enable the government to take important policy decisions quickly.
"The new government should continue investing in infrastructure, incentivise private investments in manufacturing and ease up financing. These measures will create jobs and give the necessary impetus to consumption."
Sunteck Realty CMD Kamal Khetan said affordable housing will get further thrust by way of continued tax benefits beyond 2020.
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