Effect of Demonetization on Indian Real Estate Propertiesby Ajay Singh marketing executive
When the higher currency notes of '500' and '1000' are banned by the Indian Government, the entire business environment in India has faced an unexpected shake up. This demonetization exercise is counted as the third one in the Economic history of India if the one before independence is considered. Just after this surprise announcement done by the Indian Prime Minister, all the major business sectors have started experiencing agonizingly slow growth. Though it will be too quick to judge the post-effects, the consequences of demonetization are already visible in the real estate sector. Buy Gaur Yamuna city apartments and apartments in Yamuna expressway with modern technology and good looking.
In past years, the Indian real estate sector has experienced a huge entanglement of cash transaction and black money. That's why this sudden cash crunch has caused an unanticipated blow to the sales market. But this short term issue can easily be considered when it comes to re-organizing the real estate sector with transparent transactions.
Survival of the Honest in the Real Estate sector :-
The game of survival in the real estate industry is now on for the fair players who have been continuing their businesses with honesty. It brings along some good news for the end-users also. Now the buyers will no more be cheated or deprived of their rights and they need not worry about the rapidly rising costs of the properties. They can enjoy assured on-time delivery of their selected real estate properties in Yamuna expressway without exceeding their affordability.
Availability of Home loans :-
On the other hand, the banks are now stuffed with a huge of amount of money submitted by the mass and they are ready to give it away in terms of loans. So, comparing to the previous situations, getting loan for property purchase will be easier now. In addition, the lower rate of interest for fixed deposit is also convincing the common people to invest in real estate properties in Noida, Greater Noida, Yamuna expressway and Noida Extention rather than creating a new savings account.
Effect on the credible real estate developers :-
Only the reputed builders remain almost unaffected in the present context. It is so because people investing in these high-end projects always take the legal route for transaction. So no further financial turmoil is likely to be seen in this particular sector.
Long-awaited Transparency is about to come :-
A much-needed correction is arriving in the real estate sector in terms of clarity. The immediate clamp down on black money from the market has become a nightmare for the underhand investors who were investing their unaccounted-for money in different projects and thus elevating the property prices for extra profits. Soon these dishonest folks will be removed from the procedure.
Thus, demonetization of higher currency notes has left several positive impacts on the real estate sector and unarguably it will work in favor of the Indian real estate sector to help it grow stronger and robust.
Created on Dec 1st 2020 02:33. Viewed 691 times.