Guote from
Mr. Ankur Dhawan, Chief Investment Officer, PropTiger.com on one year of Demonetization.
“Despite
the slowdown in the initial phase, demonetization had a major positive
impact on the real estate sector and turned out to
be a blessing in disguise in the medium-to-long term, especially for
buyers of mid income and affordable apartments.
Although it had a huge
impact on both primary and resale real estate transactions in November
and December 2016, with sales dropping by 40%,
one of the key benefits of demonetization was a reduction in base rates
by 1% for almost all banks.
Post January 2017, the overall sentiment of
the industry has taken an uptake which is visible in the number of
units sold in January – March 2017 quarter at 51,000
units against 54,000 units sold in July – September 2106 quarter.
These facts
and figures clearly indicate that in the near future the sector will be
propitious and will fetch the best of the results in all times.”
