Demonization: whether it is a Curse or a Boon for Real Estate Sector
Almost
a month has passed since the demonetization of Rs 500 and Rs 1000 notes has
taken place, the entire nation is still staggered with this official
announcement made by the Prime Minister Mr. Narendra Modi. Without a doubt,
every sector is crucially affected by the critical step. When it comes to the
real estate sector In India, it is relatively harshly affected. Particularly, a
lot of chief and exorbitant Indian real
estate spots such as Mumbai, Nagpur, and Pune, which lies in the prominent
state of Maharashtra, real estate transactions have almost come to a
standstill. However, in the meantime, on the other hand, the step is considered
as a boon for every real estate company
and investor.
“The price rates of 1, 2 & 3 BHK
residential apartments Baner Pune, NA
plots Pargaon Khandala and other suburban areas of the city will
de-escalate with time. These are a few prominent real estate sites of Pune
where cash transactions have been taking place commonly. On the other
hand, if you look at areas where completed
projects in Pune with reference to commercial properties, for example,
Viman Nagar, and Kondhwa which is a hub of IT and other commercial
sector professionals where investors typically buy properties taking loans;
again the impact will not be much considerable sooner or later,” said Mr Bhandari, founder of the real-estate company
BU Bhandari Landmarks.
Also,
most builders and developers disregard these claims and guess that the
demonetization will produce solely a very short-term impact and the market will
again restore to its actual position or may be a better position.
“The
step of demonization will play a large role in making the industry more
dependable and winning for foreign investors. As a result, the banks will be
flooded with funds and this will cut down the interest rate and step up the GDP
too. With that said, the sales will rise up. We as Pune’s leading builders and
developers just have the goal to build sumptuous completed residential projects in Pune to the buyers in time,” said
managing director of BU Bhandari
Landmarks.
Most numbers of real estate
dealers are just looking forward to and beseeching Him that primary sales
driven by employment generation will break away from the demonetization effect.
However, as the Prime Minister has recently mentioned on his Facebook page that
real estate price rates need to go down to make housing reasonably priced. And
this is going to be true for a well-famed city such as Pune, where the hunger
of a common to own a home is so ravenous.
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