Housing sales were hit badly and prices fell post demonetisation but the realty sector benefited from the move as it led to greater transparency in the market, say property developers and consultants.
“The positive impact on real estate is that now even secondary transactions have converted to banking channel as there is no cash available,” said DlF CEO Rajeev Talwar.
NAREDCO President Niranjan Hiranandani said that past one year not only witnessed demonetisation but also other big policy developments like the implementation of RERA as well as taxation reform, GST. “To be honest, all of these have had their own share of teething troubles, but fortunately so far things are under control,” he said. “Note ban has led to greater efficiencies and transparency in the reality sector and we welcome it,” he said.