Check out New Currency Effect on Property in Delhi NCR
Demonetization Move- It is Modi’s Best stroke! Yes, Modi Government’s decision to demonetise INR 500 and INR 1000.
Some say it is going to shape up the real estate sector, whereas some believe it is going to shake up the sector. What this move going to really do to this amazing sector? Let us check it check out Demonetization and New Currency Effect on Property in Delhi NCR.
There are many reputed developers in Delhi NCR has come up with new residential and commercial projects. They are going to see new developments in the sector. Big and reputed builders believe that this is a positive step towards the overall development of the country.
Real estate experts believe that demonetization and New Currency effect on Property in (Delhi NCR) India will create negative impact for a small term, whereas it is going to positively affect the real estate market in the long term.
They have informed that unaccounted cash payment would no longer take place hence secondary real estate markets will be affected badly. There will be huge drop in the sales process of assets that are bought and sold in the short term.
Whereas in the long term, the market will see huge growth due to reduction in corruption and unaccounted purchase and sale in the real estate secondary market.
Builders informed that in this situation we are ready to help our potential buyers. In order to serve them better, we have come up with different payment plans to help potential buyers book their dream homes. Lower liquidity will be impacting demand of the projects in the short term. It will also impact the secondary market transactions and construction progress.
Some reputed and credible ratings agencies believe that there will be less number of land deals in the current scenario till these real estate transactions enter the formal system. After everything becomes smooth, we mean once the process becomes smooth things will fall in place.
However, real estate prices will come down to some extent giving relief to the buyers. On the other hand, the developers have to bear the brunt of this move, their profitability will be affected. Yes, there profitability will be reduced as they have to bear the transaction cost as well.
There will be an increased liquidity in the banking system. Real Estate sector will attract real genuine customers with white money. There will be high transparency and the confidence of the investors and buyers will see new highs. Moreover, there will be strong confidence in the Modi Government.
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