Assembly elections in Punjab which is to begin next month will make the real estate sector of Punjab sluggish. Experts believe that till the next government in state comes to power, the investors are playing safe in regard to fresh investments and adopting wait and watch strategy. The latest upcoming residential assignments are likely to be most affected by the upcoming state elections as any new project first needs to seek an approval from various governments. According to an announcement made by the Election Commission of India, state elections in Punjab will be held on 30th January.There has already been a significant dent on Punjab real estate market due to slackening property demand and rising interest rates.
The president of CREDAI Kulwant Singh told in an interview that investors are reluctant to invest in new projects at the time of state elections as during that time new government is in formation process and the policies for realty sector are likely to witness change. He also told that on-going projects will not be affected by the elections. DLF, who are the leading developers in real estate industry in India, opined that during state elections, the real estate industry faces slowdown.
Building Developers in India has created very favourable enviornments for foreign investers as well as domestic investors.The builders as well as consumers promises to set to usher the gold rush of realty.
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