Sidharth Mishra

Delhi results: Barometer for national mood

It's been a week since the results of the municipal polls were declared. It has given Bharatiya Janata Party (BJP) a reason to continue to feel upbeat about its political fortune. It has expectedly created a turmoil with the ruling Aam Aadmi Party (AAP) and the disparate Congress rank and file. In the case of the former, party leader and Delhi Chief Minister Arvind Kejriwal is facing ire of the rivals which now has a new face in his close friend Kumar Vishwas. Within the Congress party, the going was never easy for its Delhi unit president Ajay Maken, given the history of his long-standing political feud with former Chief Minister Sheila Dikshit and her former parliamentarian son Sandeep Dikshit. During the course of the campaign, the fissures came to the fore with former Minister Arvinder Singh Lovely and Mahila Congress chief Barkha Singh quitting the party to join the BJP just ahead of the polling day. Understandably, Maken and the party general secretary in-charge for Delhi PC Thomas resigned from their position, which party leadership refused to entertain. On the other hand, the state BJP president Manoj Tiwari is being celebrated as a political leader of immense talent, taking the party to a resounding victory.

Sidharth Mishra

Chai Pe Charcha: Let's Talk Tea!

The future outlook for the Indian real estate sector is bright. Rapid urbanisation, favourable demographic changes and increasing affordability are expected to drive growth over the next decade. Nearly five million of our countrymen migrate to urban areas annually increasing the demand for housing. These factors over the last decade have pushed the average age of a first-time homebuyer in India down by more than 10 years. In fact, it is about 30 now. By 2025, increasing GDP and income levels will make property prices more affordable for a large number of Indians. The rising growth combined with an improving mortgage-to-GDP ratio and lowering interest rates will make real estate affordable for a large number of people.

Let’s now look at the specifics that drive the market sentiments determining the contours of a country’s development graph.

The Union Budget 2017 has provided more cheers for the real estate sector. It must be observed that due to demonetisation, the sector had been hit heavily during the last quarter of 2016.

It needed a major push and the finance minister provided just that. After a wait of several years, the government awarded infrastructure status to affordable housing, which is encouraging for developers.