The demonetization policy introduced a few weeks ago has really affected the real estate market. Not only the prices have gone down but no new projects have been initialized. It is because the ban on the high currency has made the market to slow down with the cost being reduced to about 10-30%. Demonetization is definitely a big blow as market was really faring well with the sales being high and a number of new projects introduced by the developers. But currently things have become worst as projects are incomplete state as no funds are available for the same.
According to the experts, such conditions may exist for another few months until the prices become stable. Real estate market was one of the sectors that involved a lot of hard cash but the demonetization has surely stuck the investors and the developers hard. On one hand when the builders are unable to get resources to complete their projects, even the investors rare finding it difficult to stake their money owing to the downfall in the market. The ban has made a negative impact on the real estate industry with things being at a standstill.
Though the developers are trying to come out of the situation but it will take time. Unless the market gets stable, it is very difficult to predict anything. But on one hand where the investors are juggling hard, the buyers are really happy as the cost has dropped and this has given them the opportunity to purchase home for themselves. The buyers who had already booked their homes are unable to get the delivery as the construction is yet not complete. On the overall the conditions are really favourable for the buyers and it is advisable for them to invest in property and buy a dream home for themselves.
Even the salaried people are facing issues and this is the reason that they have postponed their decision to purchase a flat at this time. Even they are waiting for things to get better and conditions become stable. Putting their money into real estate may not prove to be a great decision as the market is not doing well and nothing can be expected after seeing the present condition. Both the buyers as well as the builders will have to wait for the next couple of months. After that the market can rise and the industry may move towards a fresh path of growth.
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