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Real estate sector now banks on BJP to give push for affordable housing.
Reacting to election outcome, Anuj Puri, Chairman and Country Head, JLL India, said: “Housing shortage is legendary, and the Indian Government has always kept low-cost housing in the focus. However, most developers have shied away from focusing on this space because affordable housing is a relatively low-margin business; and in high inflationary scenario, profitability remains a key concern. Equity participation by PE funds has also been limited in the budget housing space.”
“The new Government may look at helping on quicker land acquisition, faster approvals, easy and low-cost funding availability and better infrastructure to make it a more interesting proposition for developers and investors,” he added.
He further added that in Gujarat (the home state of Narendra Modi), the Government has been extending a helping hand to developers who construct low-cost homes, although availability of cheap capital, lengthy approval process and affordable land availability continue to remain challenges.
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