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Effects and impacts of General Elections, 2014 on Real Estate Sector

by Gauri Shankar 07-Jan-2014

For those sitting on the barrier to purchase house or waiting to sell at a decent profit, the outcomes of this year’s general elections is expected to be a game changer.

The general election of 2014 is anticipated to damage the labour shortage in the housing sector, putting more tension on builders and delaying further the delivery of almost 1 million homes over the country, as lakhs of workers head back to villages and villages to workout their franchise.The mandate of the people of India throughout this election was clearly for continuity, steadiness and development.

 

How can we relate elections and real estate?

Elections are a democratic occurrence, which happens every 5 years in India. There are two types of election namely assembly elections for respective states and general elections for parliamentary system in India.It is commonly renowned that to win elections, political parties use all types of methods from announcing distribution of laptops, proposing cycle, to free subsidies.

 

What influences does election can have on real estate in India?

There can be only following 2 scenarios after General Elections:

  •  Existing Government is reelected
  •   New Government is elected

"The situation is grim. The state elections have already impacted building circuits and we anticipate that throughout the coming general elections. As observed earlier that during the time of elections, the funds are diverted in the direction of political parties’ election campaign. And the sectors that suffer the most are genuine estate and gold. Large allowance of unaccounted money is provided to these political parties which until now would have been parked mainly in real estate. In fact, during election times one can notice the increase in distress sale activity in real estate.

 

Should I buy the property during election times?

From the end-uses issue of view, it is probably the best time to purchase. One can aim on buying from resale market. As proposed earliar, there is powerful prospect that distress sales will increase and it presents end-users with an opportunity to purchase at lesser rates. However, buying in secondary market means, one has to pay huge money of property value in cash.

 

 

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