Future Looks Bleak for Real Estate

The Future of Real Estate post Demonetization looks extremely bleak as the construction activity has been severely hit by the high denomination notes ban and work on many projects has come to a standstill. The Realtors are are finding it difficult to source material and to pay the workers because of the cash crunch.

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According to any estimate, 1000s of apartments are stalled midway since the demonetization is announced. The buyers are not coming forward expecting the prices to decline further. On the other side, builders are short on cash as traders, transporters, as well as workers, want hard cash as they do not have any swipe machines or online purchasing system.

Real Estate Experts are expecting that the construction activity is likely to pick up by March 2017 only when the cash issues are solved. But even then, if the buyers choose the wait and see policy things will go from bad to worse.