Home | About Us | Contact Us | NRI Section | Login



Connect to Gurgaon propertis Facebook Follow Us On Twitter Subscribe Now Follow Us On Google plus

IREO

DLF

Emaar Mgf

Unitech

Vatika

Central Park

Tata Housing
Left Image 1
Gurgaon Home
Left Image 2
Gurgaon Original BookingGurgaon Origional Booking
Gurgaon New Projects
Gurgaon Residential Properties
Gurgaon Commercial Properties
Gurgaon Office Space
Commercial Original Booking
Gurgaon Industrial Properties
Gurgaon Warehouses
Gurgaon Rented Properties
Gurgaon Assured Return
Gurgaon Agricultural Properties
Gurgaon Farm Houses
Gurgaon Builders
Gurgaon Commercial Builders
Gurgaon Property Dealers
Gurgaon Maps
Gurgaon Real Estate
Left Image 3
Gurgaon Apartments / Flats
Gurgaon Society Apartments
Gurgaon Guest Houses
Gurgaon Villas
Gurgaon Real Estate Companies
Plots in Gurgaon
Huda Plots
Gurgaon Commercial Showroom
Gurgaon Udyog Vihar
Gurgaon IMT Manesar
Gurgaon Corporate Leasing
Gurgaon Property Price
Gurgaon Apartments For Rent
Property Documents
Gurgaon Circle Rates 14-15
Left Image 10


Gurgaon News  | Gurgaon Blogs  |  Gurgaon Article

Election impact may hold back Mumbai, Gurgaon realty
15/09/2014
Maharashtra and Haryana, the two states headed for legislative Assembly elections on October 15, have another thing in common. They are among the most prominent property markets and together are estimated to constitute 30-40 per cent of the pan-India real estate universe.

While the polls might not substantially impact the property prices in these states, these could slow down policy clearances and infrastructure projects critical to real estate, say analysts. Since the elections are coming just about a week ahead of Diwali, a time for the biggest real estate launches, those tracking the sector say there could be some changes and delays in new projects.

There's likely to be a short-term impact on real estate activity and approval processes because of these elections, says Anshuman Magazine, chairman (South Asia), CBRE, a global consultancy in the sector. "It is usual for project approvals to come to a standstill before elections." Even proposed policy decisions such as overhaul of the floor-space index in Haryana is likely to be delayed, he said. Infrastructure projects in the states could also be hit, affecting real estate.

A Cushman and Wakefield study put the total estimated unit launches at 172,500 across major eight cities of India in 2013. As for prime residential, Gurgaon made for 8,000 new apartment units in the first half of 2014, Mumbai 17,600 and Pune 5,000, according to CBRE data.

It also shows the National Capital Region, of which Gurgaon (Haryana) is one of the biggest chunks, constituted three million sq ft of new prime grade-A commercial supply in the first half of 2014 and Mumbai 2.2 mn sq ft, of a total of 14 mn sq ft across this segment in India. So, in grade-A commercial space itself, Mumbai and Gurgaon, the primary real estate drivers in Maharashtra and Haryana, together form more than a third of the pan-India new supply.

Developers are a bit cautious and do not want to dampen the Diwali spirits. Lalit Jain, chairman of the Confederation of Real Estate Developers' Association of India, told Business Standard: "In Maharashtra, the political system has no role to play on project approvals."

Niranjan Hiranandani, managing director, Hiranandani Constructions, said there would not be any perceptible change due to elections before Diwali. However, people would look forward to new policies in housing and incentives for affordable housing. Those policies would depend upon the result of the elections and who forms the new government. Many issues in real estate are governed by state laws.

The actual loss to real estate caused by policy uncertainties will be clear after the poll result and how quickly the new government is able to take charge, an analyst said. "The silver lining in all this is that the real estate market is already slow,limiting the impact of elections," he added.

Sanjay Sharma, managing director, Qubrex, a real estate consultancy, agreed. "It is a fact that property is not selling well," he said, and developers which had begun new projects had seen a perceptible weakness.

"There's no trigger for a price rise yet and no sign of investors showing bullish behaviour." In a situation like this, Assembly elections in Maharashtra and Haryana might not have a material impact on property prices, he said.

At the time of the Lok Sabha polls earlier this year, analysts had predicted the property market was going to revive in nine to 12 months.

There are optimists, too. Om Ahuja, chief executive, residential services, Jones Lang LaSalle, an international consultancy, said in recent weeks, a lot of new files had been cleared and new projects would be ready after the shradh period (ending September 23) and once the festival season takes off. "I don't think people are really bothered about elections when they make real estate purchase," he said.

Source :business-standard.com






News Archive
E-stamping will make Registration of Properties Easier and Quick.
Election impact may hold back Mumbai, Gurgaon realty
HC scraps sale of 351 acres in Gurgaon to DLF
Dwarka Expressway - NCR’s Futuristic and Promising Situate
Ascott signs new Gurgaon property
Companies like Google, Linkedin turn office spaces into happy zones for their employees
signs on for second Gurgaon property in New Delhi, India
Ascott to manage first Somerset-branded property in Gurgaon, India
Was not allotted more than one HUDA plot
Tax Incentives will Spur Housing Sector Economy
Establishment of Smart Cities - A boost to the Real Estate Market
Maintaining a Line Between Nature and Human Life
New Gurgaon - Reason to Smile
Emaar MGF directed to pay Rs 2 lakh for increasing super area without consent
Property Prices Dip in Delhi. Good Time to Buy?
Builders hunt for cheaper land & technology to offer affordable housing
Delhi NCR accounts for nearly 60% of total expected mall space
Resolve Disputes through Arbitration
Decide Gurgaon farmhouse owners representation: HC asks police
Pay Lower Interest Rate on Home Loan
Over 50% Real Estate Buying Online
Time to Make Reverse Mortgage More Adequate
Streamline the Approval Process to Boost Realty Sector
Revenue and Panchayat Road will be on land owned by the builder
Resolve India’s Urban Housing Crisis by Integrated Township and Slum Demolition
Godrej Properties transfers stake in Gurgaon project to Shubh Properties
The Importance of Property Registration
Change of land use permission back in Haryana
Owning a farmhouse in city gets tougher
No stamp duty on property transfer in blood relations
Prevent Yourself from Tenant Trouble
Nation Highway (NH) 8 – A Perfect Location to Invest
EMERGING CORRIDORS OF GURGAON
Sector Awaits Booster Dose
ROUTINE MAINTENCE OF RENTED PROPERTY
NECESSARY TIPS ON SEARCHING PROPERTIES ONLINE
Immovable Property Gifts Attract Tax
Compensate Gurgaon farmers at current rates, court tells builders
HOME LOAN ELIGIBILITY CRITERIA IN BANKS
Good Returns Drive Residential Market
New Payment Plans to keep Property Market Steady
Real Estate Industry needs Successful Market Reforms
Important things to know for Maintenance of Housing Societies
VARIED CITIES OFFERING ADVANCE RENTAL MARKET OPPORTUNITY
Real Estate Industry Eagerly Waiting for Stable Regime
Gurgaon too has its Share of Problems
REAL ESTATE BUYERS EXPECTATIONS FROM NEWLY-ELECTED GOVERNMENT
Gurgaon-Sohna Road - New Hottest Hub of Property
Acquire Best Deals at the Time of Sluggish Economy
Steady Increase in Circle Rates, Gurgaon Real Estate on the Rise

Copyright© Gurgaonproperties.net, All Rights Reserved      Why Us | Career | Disclaimer | Sitemap | Testimonials | Email Us: info@gurgaonproperties.net