The real estate sector in Punjab is likely to witness a dull
period next moth in the run-up to Assembly elections in the State, with
investors expected to adopt a wait-and-watch policy with regard to new
investments till the next state government comes to power, say experts.
The maximum impact of the upcoming elections is expected to
be visible in new and upcoming residential projects, which still require statutory
approvals from various government authorities to take off, as investors and
financiers will be reluctant to infuse money into these projects in the wake of
the Code of Conduct coming into force, real estate experts said.
The Election Commission of India yesterday announced that
elections for the State Assembly in Punjab would be held on January
30.
Spiraling interest rates, coupled with slackening demand for
property, has already made a significant dent on the property market in Punjab,
with sales prices of real estate products dipping by 10-15 per cent in the past
six months, they said.
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