Narendra Modi one year in govt: 3 triumphs, 3 failures
NDA government’s first year hasn’t been the best for real estate: Unsold inventory has risen amid weak demand and few project launches across the country.
The first year of the Narendra Modi government witnessed two policy rate cuts of 25 basis points each by the Reserve Bank of India and an additional tax deduction on Rs 50,000 on the interest component of home loans but the realty sector still awaits a revival of its fortunes.
Even though expectations were high, the industry has only witnessed the situation worsening with time. Unsold inventory has gone up amid weak demand and few project launches across the country.
It’s not just the developers who are under stress. Brokers and customers, too, are facing the heat.
Here are three triumphs and and three failures of Narendra Modi led govt over the past one year