The biggest threat that the realty sector was facing after demonetization (notebandi) was the fear of time which will be taken for recovery. But real estate after notebandi is apparently recovering speedily. If we look at the estimates by sources, it is believed that the different segments of realty post demonetization are witnessing an increase in demand. These segments include commercial, residential and affordable homes.
Real estate recovering post demonetization can be seen clearly with the increase in demand in specifically the residential segment. Even the increase in the commercial properties is also a clear signal of realty recovering after notebandi. As per the real estate developers, they have been able to sell many units in comparison to the downfall which they were facing earlier.
Realty developers have informed that homebuyers are coming back in action showing the realty recovering after notebandi.
Keeping in mind the post demonetization real estate status, it was assumed that the downfall will go on for a very long time. But the real estate had buyers showing interest in even the month of March, which usually doesn’t as it is the last month of the fiscal year.
Realty estate revering post demonetization is most prominently being seen in the affordable housing segment.
Keeping in mind the perspective of buyers, they had expected the prices to come down in post demonetization realty and therefore, they were waiting for the correct time to make the investment. But that didn’t happen to the real estate after notebandi and so the buyers have started investing in various segments.
Various measures taken by the government in order to achieve the vision of Housing for All by 2022 has also helped a lot in the recovery of real estate post demonetization. These measures include subsidies provided by the government along with the numerous affordable housing projects that are launched and most importantly granting the infrastructure status to affordable housing sector. Political stability has also played a major role in post demonetization realty.