"We will have to first understand what powers the new Assembly will have in the event of any elections taking place. As a man from National Conference, whatever the elections, we must contest elections," he said.
Batting for a united stand by political parties against the abrogation of Article 370, Lone said that all parties must stand together for the restoration of the special status of Jammu and Kashmir.
"All parties like the Congress, National Conference, PDP and other small and big groups must join hands to carry out agitation against India for the return of the special status of the state," Lone added.
Lone said the clampdown in Kashmir is stopping people from showing their resentment against the scrapping of the special status.
"It is military rule in Kashmir. Every nook and corner of the state is guarded by the Army, by paramilitary forces, people are not allowed to come out, if they would have been allowed to come out, they would have showed their resentment," Lone said.
He said that he "appreciated" the role of Pakistan and other countries in raking the Kashmir issue internationally and "putting pressure" on India.
"It is a good thing that Pakistan or China or US any other country rakes up the Kashmir issue internationally and supports the cause, they have exposed India, otherwise India would have taken the move as a success without caring about who is who," he said.
Lone demanded the release of former Chief Ministers Farooq Abdullah and Omar Abdullah and said the party leadership must be allowed to meet these senior leaders to decide the future course of action.
"We must be allowed to see our leaders and they must be released, we will sit down along with other parties to chalk out a joint course of action," Lone said.