Builders pin hopes on BJP

With a majority government coming to power, builders are hoping for a revival of the stagnant real estate industry as they feel the new government would be able to lay down policies boosting the industry.

Lalit Kumar Jain, chairman, Confedera-tion of Real Estate Developers Association of India (Credai), said, "It gives us a ray of hope in the otherwise dark era that was witnessed under the previous government." He recalled that Credai had submitted detailed proposals to the former PM and other concerned ministers for affordable housing and to give a boost to the real estate sector. "The proposals were never even acknowledged, let alone acting on them," he said.

Former president of Maharashtra Chamber of Housing Industry, Pravin Doshi, said that the real estate market suffers from corrupt and inefficient policies. "The absence of a transparent and single-window clearance system has always hurt builders and hence, affordability of homes. Builders have always had to pay under the table to sanctioning authorities. We hope this will change now," he added.