“The sheer positive sentiment generated by the decisive Lok Sabha election verdict will spur business and economic activity for the next year at the least, most of it driven by expectations of swift implementation of broad and sweeping policy reforms by the new Government. For the positive sentiment to get effectively channelized into improvement in the business environment and therefore strong economic growth, the new Government should move quickly in rolling out enabling changes at the macroeconomic policy level and at the consumer level in the next 6-12 months.
Specifically for the real estate industry, priority areas are Infrastructure improvement projects and affordable housing projects. At a systemic level, steps towards improvement of transparency of the industry such as bringing in a regulator, improving speed of approvals by creating a single window process and enabling access to low cost financing of infrastructure and affordable housing projects are critical enablers. One of the focus areas for BJP has always been development of road infrastructure. Their visionary project – ‘The Golden Quadrilateral’ would be taken to the next level and improved road connectivity with tier 2 and tier 3 cities would help the realty industry prosper in these cities.”