How Demonetization will affect the property in Noida Extension?
Modi ji’s Demonetization move has changed the dynamics of the real estate industry. The Demonetization of the 500 and 1000 rupee currency notes has shaken the corrupt personalities of the country. The entire country’s economy is seeing new change wave and this is expected to be positive one by many industry experts.
Most of the reputed builders feel that they are going to see any negative impact on the real estate industry or on the units sales. Rather, they informed us that the industry will see huge positive impact as black money hoarders will be discouraged by this move. Buying and selling behaviour of many customers and sellers will change. People who earlier is used to go for real estate deal through mode of cash payment will bear the brunt.
When it comes to home buying, it is good that people who had huge black money won’t be able deal easily. You must be guessing How Demonetization will affect the property in Noida Extension? Let us check out the way demonetization will make difference to the real estate sector.
More than 25% real estate transaction is dealt in cash, mostly black money. This have been circulating in the economy, bringing huge harm to the economy as well as the industries. Inflation is a direct result of this unaccounted money circulating in the economy. Most of the people who have huge black money are investing in the real estate projects and earning huge income, and they are also responsible for the spike increase in real estate – commercial and residential property prices.
Post demonetization, only real users will buy apartments and commercial units not these black money hoarders. It would be hard to own properties on fake accounts. There are corrupt people out there who buy properties on somebody else’s name. This trend is going to be stopped now. Now, real user, real end user will be able to buy these apartments and soon these empty apartments will be occupied by real families.
It may seem that real estate is seeing negative impact of demonetization but it is not correct. The economy and the real estate industry will see positive results in a short span of time. Experts and our team too believe that this is the right time to buy property, yes best time to invest as prices will become really affordable.
The industry will also see huge transparency in near term, it has been started now. There are sources that reveal, real estate industry will also see some new changes in the provisions. So, do not waste your time, invest now !
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