• Home
  • Contact Us!
  • Privacy Policy

Radio Metta

  • Home
  • Business
  • Education
  • Health
  • Home Deco
  • News
  • Real Estate
  • Technology
  • Contact Us!
  • Privacy Policy
Home» Real Estate»India’s Currency Ban Hits Real-Estate Market

India’s Currency Ban Hits Real-Estate Market

Saheli 07 Dec 2016 Real Estate Comments Off on India’s Currency Ban Hits Real-Estate Market 328 Views

Sales of apartments at Patel’s Planet, one of many developments in the suburbs of Mumbai, have slowed after the Indian government said it would replace large-currency bills.

AMBERNATH, India—Saturdays are typically busy at the sales office of Patel’s Planet, one of the many new apartment developments in the suburbs surrounding Mumbai where India’s fledgling middle class has been flocking in recent years.

But last Saturday, it was virtually deserted.

Prateek Patel, the cousin of the developer, complained that he hasn’t sold an apartment since early November, when Indian Prime Minister Narendra Modi shocked the country by announcing an unprecedented currency overhaul.

Mr. Modi’s move took aim at the heart of India’s black-market economy by taking out of circulation existing 500- and 1,000-rupee bills in an effort to reduce corruption, counterfeiting and tax fraud.

Much of the country’s real-estate transactions, particularly land and home sales, have been conducted on a largely cash basis to avoid taxes. With many buyers now on the sidelines, sales have evaporated and huge price discounts are expected when the market gets its bearings back.

[Source:-Wal Street Journal]

BAN Currency hits India's market real-estate 2016-12-07
Tags BAN Currency hits India's market real-estate
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : Saheli
Previous Article :

Resale realty market hit hardest by demonetisation

Next Article :

Future Tech: Seventeen Microsoft Researchers On The Technology of 2017 And 2027

Related Articles

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

admin 02 Aug 2025
Our comprehensive list of 135 topics for real estate blogs

Our comprehensive list of 135 topics for real estate blogs

admin 13 May 2025
Why some houses sell more quickly than others

Why some houses sell more quickly than others

admin 07 May 2025

Latest Post

The Future of High Performance Networking: Ultra Ethernet Explained
Technology

The Future of High Performance Networking: Ultra Ethernet Explained

admin 28 Aug 2025
Why a focus on foundational education must be at the heart of the response: Out of school but not out of reach
Education

Why a focus on foundational education must be at the heart of the response: Out of school but not out of reach

admin 23 Aug 2025
HP Increases Innovation in Gaming
Technology

HP Increases Innovation in Gaming

admin 19 Aug 2025
Anatomy, Function, and Common Injuries of Hamstring Muscles
Health

Anatomy, Function, and Common Injuries of Hamstring Muscles

admin 12 Aug 2025
Gaming Your Way to Sharper AI Prompts
Technology

Gaming Your Way to Sharper AI Prompts

admin 07 Aug 2025
15 Elegant Living Room Hanging Lights
Home Deco

15 Elegant Living Room Hanging Lights

admin 04 Aug 2025
115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads
Real Estate

115 Ideas for Real Estate Blogs: How to Make the Most of Your Online Presence and Get Leads

admin 02 Aug 2025
August 2025
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme