• 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 413 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

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time
Health

Clinical Trial Considerations for Infectious Disease Rapid Diagnostics: From Sample to Result in Record Time

admin 04 Oct 2025

Michael Kremer on the Andhra Pradesh PAL Study’s evidence of personalized adaptive learning in India

admin 22 Sep 2025
Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members
Health

Digital Dermatology with Freedom 360: Skin Cancer Checks and Expert Care for Members

admin 15 Sep 2025
Small, Rural Central California High School Continues To Defy Standardized Education
Education

Small, Rural Central California High School Continues To Defy Standardized Education

admin 12 Sep 2025
Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce
Education

Speeches delivered by CEO Sundar Pichai at the White House AI Education Taskforce

admin 08 Sep 2025
How is PSA used to monitor prostate cancer?
Health

How is PSA used to monitor prostate cancer?

admin 01 Sep 2025
The Future of High Performance Networking: Ultra Ethernet Explained
Technology

The Future of High Performance Networking: Ultra Ethernet Explained

admin 28 Aug 2025
October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
  • Home
  • Contact Us!
  • Privacy Policy
Copyright 2016, All Rights Reserved
Magazine Blog News WordPress Theme