Demonetization had a significant negative impact on the real estate industry, which was recognised as a shelter for hiding black money. I read the statement released by the Confederation of Real Estate Developers Association of India (CREDAI) in Hyderabad. It said that the real estate sector completely supports the government's decision to demonetize currency notes. So let’s see how demonetisation impact property in Hyderabad.
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What is the impact of demonetisation on Hyderabad real estate?
The effects of demonetisation are quite minimal in Hyderabad, a city with a competitive real estate market. In fact, increased transparency actually boosted sales in the quarters. Telangana's condition has improved, reversing the trend of a decline in land transactions across India following demonetisation on November 9, 2016. But it was not actually to the point of generating significant revenue for the State government. Although it was practically revenue neutral in November 2017, a growth of 177 crores was recorded for the same time in the previous month (December 2017).
The Telangana Real Estate Developers Association's treasurer, K. Sridhar Reddy, claimed a very important thing. It is that the government's industrial policy, known as TS-IPASS, and the state's success in the ease of doing business rankings were both game-changers because they raised the occupancy rate of land.
What are property prices in Hyderabad after demonetisation?
Even though the number of land transactions increased only slightly, Telangana saw a qualitative improvement. It is because of the result of investors' assurances of favourable returns from Hyderabad, which dominated the market. This was true despite a significant increase in the cost of land.
Pune came in second place on the list with a sales rate of 34%, just behind Hyderabad's 36%. On the residential and commercial fronts, Hyderabad has been gaining momentum and offers significant investment opportunities. As opposed to this, Delhi had the lowest sales rate at 13%, followed by Kolkata at 17%.
This is all from my end about how demonetisation impact property in Hyderabad.
Read More: Has property prices dropped in Bangalore after demonetization? What are the current real estate prices in Kachiguda Hyderabad? What are the real estate prices in Hyderabad post-pandemic?Your Feedback Matters! How was this Answer?
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How demonetisation impact property in Hyderabad?
suraj
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2 Year
2023-01-31T17:54:33+00:00 2023-01-31T17:54:34+00:00Comment
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