Mumbai: Representatives of the housing industry in Mumbai and Maharashtra are upbeat with the results of the Maharashtra Assembly elections coming out in favour of the BJP. Builders and brokers feel that the BJP government is pro-reform and would do a better job than the earlier government in the state.
Anand Gupta, national spokesperson of the Builder Association of India (BAI) said, “The sentiment of the real estate sector is quite high right now and since the next government is to be formed under the BJP, we can expect that the implementation of 100 smart cities and housing for all till 2022 could become easier.”
“Everyone wants the new government to simplify housing policies, taxation issues, speedy approval of projects and housing loans etc. We are quite hopeful that the day the new government takes this decision, the housing industry would start revitalising and property prices would also go down,” he added.
Yashwant Dalal, president of Estate Agent Association of India (EAAI) was of the opinion that the housing industry would flourish now. He said, “Now we can believe that the Floor Surface Index (FSI) would be raised and Coastal Regulation Zones (CRZ) would be relaxed at many places to provide relief to those affected. The earlier government had failed miserably at this.”
“All I can say is that housing stocks will go up that will drop the ever-escalating property prices. This is bound to happen,” Mr Dalal added.
The volume of sale, proposal for approvals and enquiries to builders’ offices had all gone down by 40 to 50 per cent in the previous years and builders always blamed the government that it sat idle on reforms.
A senior officer bearer of Maharashtra Chamber of Housing Industry (MCHI) and a leading builder in the suburbs said, “The last government had disappointed everyone, be it builders, buyers or other stakeholders. Now, undoubtedly this new government will boost businesses and ignite investor’s confidence too, in what would be win-win situation for all. If the incoming government is able to keep up the confidence of the parties involved in the housing industry, the coming years will see a lot of development.”