With the start of demonetization the real estate business has seen a significant change in India. From reducing cash transactions to bringing regularity in buying and selling, even the high-end properties are now seeing a dip in its prices.
Projects such as the VTP Blue Waters are a lavish real estate project in Pune, yet it also has been affected by the demonetization influence. Although demonetization is a good change in terms of authenticity, still the impacts cannot be ignored.
As the black money has been cleared the real estate business has been refreshed and buyers are relieved. This also has made the price of a project more realistic and affordable. People can now find a better deal. Even the government has assured risk-free investment to the home buyers.
The best part of demonetization is that it has given genuine developers a new chance in the market to flourish and build good constructions. Every property developer now has to comply with the strict guidelines and have to complete a project within the promised time frame.
Loan And Availability
Banks and NBFCs are offering flexibility in home loan rates as the interest rates have fallen. One can now get a home loan easily with the right documents and eligibility criteria.
Therefore, more and more home buyers are now applying for home loans. For instance, if you wish to buy a flat in the VTP Blue Waters, you can apply for a home loan from a bank or an NBFC.
So, it is not all bad news with demonetization, but more benefits.