Impact of the 2024 election results: According to G Hari Babu, national president of NAREDCO, the new administration should prioritize infrastructure development and affordable housing.
The real estate industry anticipates that the next administration will maintain its emphasis on building infrastructure, seek to bring down the interest rates on house loans, give priority to affordable housing, and offer tax breaks for environmentally friendly development.
The real estate sector always looks to a stable administration to guarantee that ongoing programs and investments in infrastructure development won’t be disrupted. Above all, this unlocks the real estate potential of existing and emerging regions, according to Anarock Group Chairman Anuj Puri.
The founder and chairman of Signature Global (India) Ltd., Pradeep Aggarwal, stated that “we are confident that the new government will sustain its focus on real estate and infrastructure development beyond metro and large cities” as India solidifies its position as the world’s fastest-growing large economy, with a GDP growth of 8.2% in FY 24, exceeding the growth of 7.0% in the previous year. The economy is significantly multiplied by these industries.
NAREDCO National President Ghari Babu responded to the Lok Sabha election results in 2024 by saying, “The real estate sector is at a crucial point, with great growth potential but significant challenges.” Government support is required in order for the industry to attain a $1 trillion market size by 2030 and become net-zero carbon by 2047.
