NCR real estate hails polls surveys, hopes of market revival

Realtors and local players expect that the realty market, which offers thousands of jobs and a major contribution to the economy, will revive in a couple of months.

Real estate sector players said that with polls surveys, revival signing were visible. Indian stocks climbed to record highs just after exit polls. The players strongly believe that there would be control in price rise this will further help to reduce construction cost. Apart from that, companies and buyers who have been holding their decisions of investment for a longtime, will jump in the market.

Poll projections have floated a new wave of expectation in UP’s industrial and real estate sector. Experts believe that a clear mandate will lead to economic growth. They also believe that the market is sentimental and will respond very soon — possibly breach an all time high. Amit Gupta, MD, Orris Infrastructure said, “For the last few months the Indian real estate was witnessing major downslide. Even the results of four states assembly elections had left a positive impact on the Indian market. We are hopeful that the real estate market, which provides bread and butter to crores of people of this country, would be revived soon. There is no doubt that the mandate will pump the market. The positive sign will be visible in the coming days.”

Anil Mithas, CMD, Unnati Fortune Group said that positive sentiment was missing from the market, which is why some sectors were not doing well. With the functioning of the new government, the market will witness more growth and strength. “Real estate had started witnessing revival signings after four assembly polls last year in December and it’s the right time to buy property. Post elections, rates would go up and put burden on the buyer’s pocket. The poll surveys displayed by media houses are reflecting stable government,” Mithas said.

“For that last one-and-a-half decades no big industry has associated its name with Greater Noida and Ghaziabad, which is called the industrial hub of Uttar Pradesh. Credit goes to poor infrastructure, maligned law and order and ‘gunda and jungle raj’. We are sure that a clear mandate and stable government will impact the NCR region as well,” said Aditya Ghildiyal, president, AGNI (Association of Greater Noida industries).