If you're thinking about buying the apartment, this time can be the right decision to buy property in NCR region. For a short time, according to real estate experts, luxury and secondary or re-sales apartment prices are likely to fall. However, in cities such as Noida and Greater Noida Affordable flats prices is not going to change much. to analyze Immediate impact of Demonetization on the real estate of Gurgaon-based real estate expert the company colliers international India has issued the report.
The company's national director Amit Oberoi , said while talking to TOI,After immediate Demonetization for some time that the deflation was so natural. Oberoi said, "the value of money has increased and to reduce financial deficit spending money is also capped and therefore the stagnation in the market for some time will also come." He said the due to that the next three months sale of land will also decline. All of this happen because the real estate companies shall be engaged in the conversion of their 'black money' .
Oberoi said real estate players will follow "wait and watch" strategy, thats why the reduction in prices will not come so soon. Developers will bear the loss because the flow of the currency will be slow . The A grade of the primary developers take less cash in sales. So they will not bear any loss.
The report said that for a short time of three to 12 months , real estate prices will fall and interest rates will begin to reduce. Oberoi said real estate prices will be fall for buyers , but the situation will not be spread uncertainty. We hope that because of financial stress some assets would be affordable in Secondary market . "