Year 2016 was a mixed year for developers and discerning buyers, though the announcement of the Real Estate Regulation Act (RERA) brought a huge cheer to the industry in 2017. It has been a year for the end-users, while investors have largely kept away from the market. A lot of ... Read More »
The government’s decision to withdraw notes of Rs 500 and Rs 1,000 was intended to attack the black economy. A natural corollary to this was a likely hit to the real sector, which, for long, has been considered a refuge for unaccounted money. The trends so far suggest some immediate ... Read More »
The choice of words of Manmohan Singh, former prime minister and an economist, for his column in The Hindu on demonetisation impact on India’s economy, beginning with the title, Making of a mammoth tragedy, should worry the average Indian. Even if one tends to discount the politics of Singh’s article, the former ... Read More »
Dombivli -based A. Gandhi is finding it difficult to sell his two bedroom flat, after the central government demonetised the Rs 500 and Rs 1000 notes in November. “My flat has been on the market for nearly four months and I had got to the point of signing the agreement ... Read More »
The demonetisation drive by the Modi government has had an impact on the real estate sector with the number of enquiries and walk-ins by homebuyers falling by almost half as they postpone purchase decisions and wait for a further fall in prices. A substantial decrease in enquiries and walk-ins has ... Read More »
The problem is that the move of demonetisation has sort of synonymised cash transactions with black money. Let us take few facts into consideration. “Between the CSSO and NCEUS data, anything between 80 to 90 percent of businesses in India lie in the unorganised sector, which also contributes to half ... Read More »
Kusum is an 35-year old working woman. She has been saving diligently to buy a house in Mumbai and has almost clinched a deal. She has shortlisted a property in the suburbs, finished the paperwork for the home loan and is ready to make the down payment. However, since demonetisation ... Read More »
There has been unwarranted fear mongering in the country post the announcement of demonetisation. However, if we take a long term view on issues, demonetization will help bring a positive change in the real estate sector. While the industry will stand to gain from the shift towards a more transparent and ... Read More »
Those who deposited their black money in banks, disclosing it to be untaxed wealth, since the governmentannounced demonetisation will now have to pay income tax at 50% and a quarter of the portion of the unaccounted income would remain with the government for four years, as per amendments planned to ... Read More »
KOCHI: Kandukuri Vinoda, a home-maker in Telangana, was one of the early victims of demonetisation drive as she committed suicide. She had Rs 54 lakh cash after selling land. There is a co-relation between real estate transactions and demonetisation. The former being often high-value ones, the customer will always be ... Read More »
Equating demonetisation as a move to cure “cancer” in the economy, Mumbai-based real-estate tycoon and managing director of Hiranandani Group Niranjan Hiranandani said the real-estate sector across the country has taken a “hit” after the Modi-government banned currencies of Rs 500 and Rs 1000 denominations and will take at least ... Read More »
The government’s demonetisation of ₹500 and ₹1,000 currency notes will have a transitory impact on many asset classes such as real estate, jewellery, bonds, etc. The resale market in the real estate sector may be hit the most since many deals are made in cash. However, the demand in primary ... Read More »
