Mr. Sukanta Samanta who was almost few steps closer of his home-buying demonetization came to him and many more real estate investors no less than a natural calamity. Samanta being a software professional had preference for property in Kolkata north for his occupational patronage. Now ministers are having talkathons on this topic and home-buyers are on the back foot. Over the past few days many other potential property buyers have been inquiring us about the impact of banning currency notes on real estate business. Here we are trying to provide the best answers against peoples’ query centering around demonetization on real estate investment-
1. People have been often asking us questions like for demonetization will the price of home go down?
Home price won’t come down as majorly these days’ home buying is done with home loans. Thereby cash deposition has a minimal role in this entire coup. In the past couple of years property prices have been grown by 3-4% in the metro cities. Yes for resale market it’s an overall not a rosy time. Because the resale market has only cash involvement, so this sector is likely have a price correction. Short term and medium term property sale is likely to witness some persecution.
2. What will be impact of demonetization in real estate business?
Demonetization is likely to have a short term effect on real estate business. Resale and land property market will affect as there is a severe cash crunch in the current market and these two sectors of real estate do their business through cash transaction. Luxury properties are likely to see a higher price correction in the short term. Real estate market is going through negative sentiment and will continue with the same for coming 3-6 months.
3. Will builders cut short the new property price?
What made people think like that, where there is an overall slow-down in the entire real estate business. Properties are already being sold at 2012 rates. RERA rules have been in the action since this august for buyers’ protection besides Govt. is also backing builders to come forward with more and more affordable housing against the high market price of raw materials and cost of labors.
4. Is it a good time to buy property?
Why not? Builders will be in need of cash liquidity. You will get the best negotiating price against your home-buying; also they will offer you exciting discounts on stamp duties and maintenance fees. 90% of the first time home-buyers fund their property with home-loans. Home loans rates expected to come down soon. EMIs will drop so that people can afford big apartments against the same investment. It’s now up to the buyers to utilize this moment as an opportunity or not.
Under this circumstance people will get to sense the actual affordability – Get a pre-approved home loan & arrange funds for the rest 20% from your savings. As per your budget restriction search properties with well practiced property portals and have one to one interaction with the seller. Brush up on your negotiation skills. You can actually save more than you thought of.
1. People have been often asking us questions like for demonetization will the price of home go down?
Home price won’t come down as majorly these days’ home buying is done with home loans. Thereby cash deposition has a minimal role in this entire coup. In the past couple of years property prices have been grown by 3-4% in the metro cities. Yes for resale market it’s an overall not a rosy time. Because the resale market has only cash involvement, so this sector is likely have a price correction. Short term and medium term property sale is likely to witness some persecution.
2. What will be impact of demonetization in real estate business?
Demonetization is likely to have a short term effect on real estate business. Resale and land property market will affect as there is a severe cash crunch in the current market and these two sectors of real estate do their business through cash transaction. Luxury properties are likely to see a higher price correction in the short term. Real estate market is going through negative sentiment and will continue with the same for coming 3-6 months.
3. Will builders cut short the new property price?
What made people think like that, where there is an overall slow-down in the entire real estate business. Properties are already being sold at 2012 rates. RERA rules have been in the action since this august for buyers’ protection besides Govt. is also backing builders to come forward with more and more affordable housing against the high market price of raw materials and cost of labors.
4. Is it a good time to buy property?
Why not? Builders will be in need of cash liquidity. You will get the best negotiating price against your home-buying; also they will offer you exciting discounts on stamp duties and maintenance fees. 90% of the first time home-buyers fund their property with home-loans. Home loans rates expected to come down soon. EMIs will drop so that people can afford big apartments against the same investment. It’s now up to the buyers to utilize this moment as an opportunity or not.
Under this circumstance people will get to sense the actual affordability – Get a pre-approved home loan & arrange funds for the rest 20% from your savings. As per your budget restriction search properties with well practiced property portals and have one to one interaction with the seller. Brush up on your negotiation skills. You can actually save more than you thought of.
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