Since our prime minister has announced scrapping of Rs 500 and Rs 1000 notes, there has come a new word “demonetization”. There has been a lot of news of how demonetization will impact real estate market.
Demonetization will lead to reduction of bank rates and housing rates and we expect home loans to be available at around 8 to 8.25% in the months.” With the reduction of homes loans, there will be an increase in the demand of properties and the market will witness transactions happening in the real estate market. The impact of demonetization will lead to a lot of demand in the affordable and mid suburban segment.
This is a transition phase but I feel the future is bright for the real estate market.