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Lok Sabha elections 2024: How polls can impact the real estate market
Updated On: 13 April, 2024 11:31 AM IST | Mumbai | Ronak Mastakar
The outcome of this election has far-reaching implications on policies, investor sentiments, and economic stability, all of which influences the dynamics of the real estate sector
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The Lok Sabha election in India is not just a political event but a seismic shift that reverberates across various sectors, including the real estate market. The outcome of this election has far-reaching implications on policies, investor sentiments, and economic stability, all of which influences the dynamics of the real estate sector.
“As an industry player, we agree that the Lok Sabha elections can influence the domestic real estate market and shape public notions and sentiments. Taking a cue from our past experiences, we have observed that a stable government and positive economic outlook have always offered a boost to investor confidence, amplifying demand for the commercial real estate segment. Historical trends from the 2014 and 2019 Lok Sabha elections suggest that the sector is likely to witness another surge in commercial property sales and new project launches in this election year as well. For instance, in the 2014 election year, the average property prices in Mumbai, Pune, New Delhi, Kolkata, Bangalore, Chennai, and Hyderabad soared by over 6 per cent, compared to just a 1 per cent hike in 2019. These figures underscore the varying market sentiment and consumer confidence during both election years,” said IndiaLand Group Chairman Harish Fabiani.
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