Demonetization effect in Noida property
In a number of cities in the country people used to only dream about owning an apartment or flat due to high prices. This dream was just a distant dream they used to stay in rented properties. But, now after the demonetization move and several other moves by the Modi Government to boost real estate sector people can turn their dreams into reality.
After the demonetization move- ban on Rs 500 and Rs 1,000 currency notes, experts are witnessing transparency in the real estate market. And, this has led to affordable property prices. Earlier, the property prices were exorbitant, but now the scenario has changed. Property Rates after Demonetization in Noida are now reasonable and a common man can now afford to buy an apartment in Noida. Prior to demonetization, the real estate market was an attractive destination for use of black money.
Most of the resellers, home buyers and small and mid-size developers used to insist on paying hard cash in real estate deals. But, now this thing cannot be continued due to strict monitoring by the government. Now, black money hoarders won’t be spared. Many big real estate players are entering into affordable housing segment. Yes, this is happening, affordable housing is now not just a dream it’s a reality. The government has introduced several measures to boost affordable housing and many real estate players are exploring this option to pass on the benefits of affordable housing to the end users.
Now, the real estate arena is witnessing lull, home buyers can take advantage of this situation and can book their properties at lower prices. Yes, property prices have come down in certain pockets. This is the perfect time to make your move home buyers. Investors can also buy property as the resale inventory and higher-end premium or luxury property has seen a great impact of demonetization. Luxury property prices have gone down this is because earlier the deal transactions were done in cash rather than banking channels. If you are looking to invest in premium properties this is the best time to invest. You can call our team to know more about better investment destination.
Some of the experts believe that demonetization is okay but it is not going to change the face of the real estate arena. The government needs to take more steps in changing the current scenario. Property Rates after Demonetization in Noida has surely fallen after demonetization but we are not sure how long this situation is going to sustain, experts added.
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