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Posted at: Mar 18, 2017, 12:45 AM; last updated: Mar 18, 2017, 12:45 AM (IST)

Doaba upbeat over new government

Doaba upbeat over new government

Deepkamal Kaur

The change of government in Punjab has pepped up the mood of real estate players all over the state in general and in Doaba region specifically. Due to a prolonged slowdown in the property market and dismal sale and purchase the developers as well as property dealers had been lying low for the past several years. Real estate dealers of Jalandhar and surrounding areas have high expectations and expect the new government to give a positive boost to their business.  

Rajan Chopra, a realtor,  says,“With the Congress  in power there is a positive sentiment in the market. But it will take some time for the government to effectively bring in some visible changes. In any case, the policies of the Centre will continue to matter.”

Gearing to restart his unfinished commercial projects, Chopra added, “The market will have some positivity only if the industry and the NRIs are happy. A friendly message has to be given out to them. We know that NRIs had been supporting AAP. But if the Congress wins their confidence and creates an atmosphere for investment by inviting them, the real estate sector will definitely get some boost”.

A Jalandhar-based property dealer, Prabhpal Pannu too opines, “There has been a change in perception since the formation of the new government. The feedback coming on the setting up of the new Cabinet, too, has been positive. The government has to revive the city’s industry, especially the sports and leather manufacturers. They are the backbone and will make the money come in circulation. As far as NRIs are concerned, they puzzled as of now and need to be taken into confidence. The mood for investment has to be set in slowly.”

Sukhdev Singh, a builder from AGI Infra group, said, “The market is excited with a change in government. Thankfully, it is a very stable government. People actually have great hopes from them and think it will perform well. The Congress  will, however, have to work to boost the NRIs. While earlier as many as 50 per cent buyers of property were NRIs, their percentage has fallen to 10 per cent only.” 


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