Although
there were an end number of misbeliefs and myths about the prospect of real
estate sector after demonetization, all the misconceptions have now seemed to
dissolve with the running stride of time. According to the top honchos in the
industry, property registrations in Pune have seen a climb of 34 percent, while the state of Maharashtra has experienced 29 percent of the same.
Compared to the documentations in the past few years, it is now expected that
the real estate sector will nearly see a record in the growth by March, 2017.
Although
the real estate market was quite down after demonetization, it has now seemed
to recover slowly. All the eight divisions of the state have not only seen
maximum registrations in December, but have also foreseen a great prospect in
the near future. People who had planned for a registration earlier in November
happened to postpone it up to December. And, especially, with digital
transactions taking an upper hand nowadays, the per day average property
registration has actually seen a steep growth.
A
number of Studies have been conducted saying that there were many investors who
might have inspected properties before Diwali , but preferred to wait after
demonetization made its arrival. But, as soon as they took in there was no
considerable change in the property prices, they might have clinched back the
confidence towards registration. Moreover, the urban areas are not the only
region witnessing the difference; the same has been experienced in the rural
areas as well.
There
was an over-reflexive reaction after the much debated ban on the big currency
notes by Modi Govt. However, things have started getting normalized and all the
rumors about the fall of property prices have seemed to evaporate with the
fleeting time. It is expected that in the next three-four months, it will not
only get much better, but with RERA crossing the line, the real estate industry
is sure to experience a greater fortune.
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