Notes Ban Makes KCR’s Targets Go Awry

The ongoing Demonetization Drive seems to have hit Telangana Real Estate really hard. Telangana government had set 4300 Crore Target from Registration Department. Until October, the government had collected about 2200 Crore towards its target but then things have gone wrong completely in November.

[m9ad]

According to the available reports, the government just managed 170 Crore from Registrations from November 9th to 24th. These registrations are expected to be prior to demonetization commitments. But then transactions are almost Zero since the Notes Ban came into effect we are told.

The situation is expected to go out of hands further if the cash flow does not improve in coming days. Telangana government is expected to lose 1500 Crore from all departments. Telangana government is expecting the Center to compensate for the losses due to Demonetization.