Realtors in Haryana are involved in the possibility of the BJP coming to power at the Centre again. They are frightened that their business, which has plummeted for the past five years, can be hit similarly if the saffron birthday party makes a comeback.
In particular, realtors working in small cities of the country preserve that their commercial enterprise witnessed a stoop ever in view that Narendra Modi became Prime Minister in May 2014.
The realtors worry that in case Modi involves electricity again, their corporations may also get completely ruined. “This isn’t only about actual estate. The bad effect has been witnessed in other businesses, too, like that of jewelry, bought for the motive of funding. The slump also has a cascading effect on the sale of luxury gadgets and the tourism industry,” stated a workplace-bearer of the Haryana State Property Dealers and Consultant Association, who has been following the elections keenly.
The realtors explain that even as the realty commercial enterprise changed into already low when the Modi government got here to power, the demonetization ordered on November eight, 2016, dealt a heavy blow to the arena. Low cash liquidity with people and the national authorities’ step to bring collector charges (charges on which assets purchaser has to pay stamp responsibility) in the actual market charges have hit the commercial enterprise even greater.
“In Punjab, wherein the Congress is in strength, the collector rates are nevertheless almost 30 in keeping with cent of the actual price, however in Haryana, these are nearly 50 in keeping with cent of the cost. This deters investors on two counts. First, they want a lot of white money to shop for assets, and, secondly, they must pay through the nose for added stamp obligation. If the BJP comes to electricity again at the countrywide degree, the difference between the collector rates and actual rates will decrease further due to the fact the Modi government frequently talks approximately exposing benami houses,” said another realtor.
Realtors keep that when there is assets increase, they are now not the simplest ones who earn, due to the fact loads of human beings in almost all towns and towns earn with the aid of investing in homes.
“When human beings earn from properties, they spend money on gold, spend on excursions and travels and devour out in accommodations and food joints. With a hunch inside the real property, different businesses have additionally been hit,” stated a realtor at Karnal.
Shiv Kumar, a former sarpanch of Kalampura in Karnal who runs a grocery shop in his village, but stated handiest people who do enterprise with black cash are concerned about the opportunity of Modi returning to strength.
“A shopkeeper like me does not have any problem with Modi. Rather all ‘Ek number is (the ones who’ve cashed in white) are happy with this regime, however ‘do numbers (the ones who have black cash) who made cash via hoodwinking commonplace human beings in real property, or different enterprise are concerned,” he brought.
Cascading effect
“When people earn from homes, they spend money on gold, spend on excursions and travels and consume out in accommodations and food joints. With a stoop inside the real property, different companies have also been hit.” A realtor in Karnal
