Potential Impact of NDA Alliance Win on Real Estate Market in 2024 Lok Sabha Elections

All exit polls suggest a comeback for the NDA alliance in the 2024 Lok Sabha elections, with potential higher mandate than in 2019. Experts predict faster approvals and more affordable homes could drive real estate market growth if BJP, NDA alliance secures majority on June 4. The potential scenario could lead to positive changes and growth in the industry.

LC Mittal, Director of Motia Group, emphasized the importance of policy and economic stability for an effective real estate market. A clear majority win could pave the way for reforms in land procurement, approvals, and affordable housing, boosting sector prospects. Experts anticipate policy changes impacting interest rates, tax incentives, and regulatory environment, influencing real estate practices and development opportunities.

Political system and government policies play a crucial role in the real estate market's trajectory. The upcoming election is expected to shape 2024 market regulations and could either accelerate or slow down sector progress. Siddharth Maurya, Founder & Managing Director of Vibhavangal Anukulakara Private Limited, highlighted the potential for industry growth through government reforms aimed at land acquisition, simplifying procedures, and facilitating affordable housing. Aman Gupta, director of RPS Group, noted that a stable government supporting business could expand development opportunities, while political instability may hinder investment rates.

The exit poll summary indicates NDA alliance likely to secure over 350 seats in Lok Sabha, compared to the opposition INDIA alliance projected to win over 120 seats.