With the UPA returning to power, the property pundits anticipate the revival of real estate market in the northern region that has witnessed shrinking of transactions when the country was in election mode. “The sale and purchase of property will now start taking place as the Center is expected to have stable government led by the UPA,” Punjab Properties and Colonizers Association Chairman Anil Chopra told PTI.

The property transactions dipped by 70 to 80 per cent in the northern region ahead of the elections as people were not inclined to invest in the real estate due to apprehensions that no major political party would get majority in the elections to form the government, experts said. “We observed just ahead of the start of the elections that the sale and purchase of land or residential or commercial properties almost came to halt with investors as well as end users preferring to wait till the new government is formed,” Chopra said.

He said that with the demand expecting to start emerging after the elections, the property rates would again move upward which would bring some relief for the realty sector. “We are seeing enquiries for residential as well as commercial properties by customers particularly in Gurgaon and Delhi after the elections which is a good sign for the real estate industry,” Realtech Group CEO Rohit Malhotra said.