Indian government’s move to scrap the nation’s larger denomination notes has brought billions from inside the household safes and under the mattresses straight into the banks. This has increased liquidity in all banks across the country. And with the black money uprooted from the system, many real estate investors – with plenty of unaccounted money – are finding themselves in a huge cash crunch and therefore, can’t raise prices for their own profits.
The demonetization of large currency notes is sure to bring the much-needed and long-awaited correction in the real estate sector.
Benefits for buyers
With the increase in the liquidity of banks right now, people are expected to get a solace in terms of interest rates and easy availability of home loans. To top that, they can even apply for home loans online to get the most fitting deals without any hassle.
ces by obtaining home loans at lower rate of interests.
This demonetization exercise has brought forth many positive and long-lasting improvements in the realty sector. In the long term, the real estate market will emerge better, more transparent and with better prospects for home buyers. Those who have recently purchased property or are planning to in near future should rejoice, given that they have conducted their dealings through legal channels like getting a home loan.
