How demonetisation affected Real Estate in Bangalore

Demonetisation affected Real Estate in Bangalore

Bangalore is an urban city which is constantly been growing in terms of people and development. With the booming IT sector that attracts migrants from other cities to come and settle in Bangalore, the real estate sector is also growing steadily in the city.

Bangalore is an urban city which is constantly been growing in terms of people and development. With the booming IT sector that attracts migrants from other cities to come and settle in Bangalore, the real estate sector is also growing steadily in the city.

Demonetization of the currency notes created a stir

With the introduction of demonetization of the currency notes created a stir in the country with mixed reactions coming in from various sectors of the market. Real Estate sector has the largest share of India’s black money. And with the help of this demonetization, the government directly hit hard to those who stocked up black money. Under real estate, the resale and land transaction will mostly suffer demonetization at a large scale as it involves huge cash components. Therefore, demonetization sucked out every black cash from the economy.

Demonetization helped in dropping the interest rates of buying homes. Therefore, the potential buyers and developers are looking forward towards the real estate market with a positive outlook. Because of direct bank interaction, it reduced the foul play occurred in this industry.

Demonetization helps buyers in getting opportunities to negotiate deals with the dealers or developers which was earlier not possible in this sector.

Demonetization had affected the real estate market in Bangalore very hard. There was a shortfall of 1350 Crores and the majority of the deficit was from Bangalore.

2 thoughts on “How demonetisation affected Real Estate in Bangalore

  • March 10, 2019 at 6:24 pm
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