On election-eve, 31% potential home buyers kept plans on hold

Around 31 per cent potential homebuyers will wait till the end of the ongoing general elections to purchase a property, a 360 Realtors report said on Sunday. The report, however, said that the scepticism with respect to the elections has softened.

New Delhi : Around 31 per cent potential homebuyers will wait till the end of the ongoing general elections to purchase a property, a 360 Realtors report said on Sunday.The report, however, said that the scepticism with respect to the elections have softened.

"Around 31 per cent of the respondents have indicated that they would prefer to wait and watch rather than making a purchase," said the report, adding that nearly 60 per cent of such respondents thought that a change in government might lead to policy amendments.

As per the survey carried out on 1,000 potential homebuyers in the country, 55 per cent of the respondents indicated that their property buying decisions will remain unaffected by the elections, while 14 per cent of them were undecided.

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According to the report, Indian home buyers are confident about the potential of the market owing to the Goods and Services Tax (GST) and the Real Estate (Regulation and Development) Act, among others.

"Amidst growing formalisation and attractive rates, it is natural that property transactions will mostly remain insulated from the upcoming elections," it said.