BJP Wins Delhi…What Does it Mean for NCR and Its Real Estate? After 1980, it will be 1st time that Delhi NCR will now be governed entirely by a single party, and that means pivotal potential for the region Here’s what we can expect: 1) Expedited Implementation of Delhi Master Plan 2041 The BJP could fast-track the implementation of the Delhi Master Plan 2041, in collaboration with the central government, aimed at providing both adequate and affordable housing for the growing population. This can unlock substantial opportunities in residential development 2) FSI Norms to Be Revised With rising demand for housing, revising the Floor Space Index (FSI) norms is needed. Easing FSI restrictions will allow for the construction of more high-rise buildings and help tackle the housing shortage 3) Approval for Redevelopment of Old Housing Colonies Redeveloping old housing colonies is critical for improving Delhi’s aging infrastructure. Delhi’s land is expensive and not efficiently used, so a strong redevelopment policy could be a game-changer. Streamlined approvals and better land use for high-density projects are key to boosting the real estate market. 4) Land Pooling Policy Amendments While not specifically mentioned in the manifesto, implementing amendments to the Land Pooling Policy will open up vast residential development opportunities in Delhi, particularly in areas that are currently underdeveloped or underutilized. 5) Amendments to RERA The government could work with the central government to amend RERA, making it easier for developers by reducing registration costs, cutting construction expenses, and streamlining the approval process. Other Hopes from the New Government: 1) Water and Air Pollution Addressed as a National Emergency It’s crucial that the Central government now treats the region’s air and water pollution issues with urgency, with a ten-year plan to reduce air and water pollution drastically 2) Decongestion of Delhi To improve livability, it’s essential that the government invests in decongesting Delhi. Expediting critical projects like the RRTS and ring roads, with better coordination and funding, is a must 3) Integrated Master Plans for NCR Not just the Delhi 2041 Master Plan, but the integration of master plans across Delhi, Gurgaon, and Noida by the @ncrpb @officialncrtc @OfficialDMRC @OfficialGMDA @noida_authority is needed. A cohesive approach to urban planning and transport with a goal to meet the 2050 vision is essential for a thriving NCR region Actions on these can result in uptick in Delhi’s RE growth But does it mean Rise of Delhi’s RE at the cost of Gurgaon-Noida’s Real Estate Growth? Why i feel it won’t… 1) Delhi is more of a large Municipal Corporation than a state, with various authorities overseeing law and order, land, and services. The Delhi Police and NDMC report to the Ministry of Home Affairs, the DDA to the Urban Development Ministry, and the Lieutenant Governor oversees all as an administrator. While they will now be under one party, coordination remains a challenge at the ground level, one of the reasons why we have unchecked growth of slums and illegally immigrants from Bangladesh 2) GCC-Level Commercials in Delhi Delhi’s public infrastructure is impressive, but the city lacks reasonably priced GCC-level commercial spaces that attract top MNCs This is unlikely to change unless there's a large influx of supply, which would likely bring prices down, but that’s a longer-term play ————————————————————- Many times in recent past BJP has come in position where the expectations have been sky high from it but in most cases it has ended up disappointing people Will it be different this time? What does BJP win in Delhi means for NCR’s Real Estate? Let me know in the comments