Altogether, ten municipal corporations across India are in the process of undergoing (or have gone by the time this piece appears) polls. Among them there are some really rich ones and the political contenders will engage in a pitched battle to rein control of these MCDs. Millions of citizens residing in these states have the strength to control the economic indices and make up for the urban constitution, and whichever party controls this urban milieu will have considerable advantage in the forthcoming general state as well as national elections.
In this context, large-scale commercial projects will play a good enough role in swaying the voters’ decision. But if in case you are wondering if the real estate projects mushrooming around you will play a role in impacting the polls, I am afraid that will not be the case. This is because these projects are essentially being developed by private players and political parties have no role to play.
There are certain commercial projects like hospitals or parking spaces for which the administration can be held responsible, even if they are built or developed in collaboration with the private players. These projects are essentially adopted by the administration for the benefit of the public and commissioned to a private developer in order to achieve a certain level of quality and efficiency.
These projects have the ability to swing voters depending on the level of convenience or inconvenience they have encountered because of it.
One aspect of real estate which will, however, see a certain amount of impact is state development authority’s housing scheme segment. Specific to Delhi, the DDA or Delhi Development Authority’s new housing scheme is expected to be rolled out following the MCD election. My feeling is because of the sheer demand which the DDA scheme, when put on offer, received, irrespective of whichever party comes to power, this housing scheme will end up gaining. This is because no party will seek to displease its electoral base at the very beginning of its rein if they want to utilise MCD to increase the party’s chances in the general election 2019.
The scheme will find maximum traction, at least which is what can be expected, if BJP comes to power, under its ‘Housing for All 2022’ narrative. With Narendra Modi’s positioning continuing to find approval of the people of India, having MCD under its wing will enable it to farther its agenda by involving private sector in uplifting the projects under this scheme which will undoubtedly win over the electorate and consolidate BJP’s chances ahead of the Assembly election.