Contact Your Financial Adviser Money Making MC
9
November 2016
The primary real estate market will not
be disturbed much with the government's decision to withdraw 500 and 1,000
rupee notes as legal tender, said a top official of the Confederation of Real
Estate Developers Associations of India (CREDAI). The Total Investment & Insurance Solutions
Getamber Ananda, President of
CREDAI-National, said: "Effectively the primary market will not be very
disturbed as the inventory was sold to end users who avail home loans."
In a statement issued late Tuesday,
Anand said: "Moreover the organised part of the real estate industry has
always been compliant and it is only the unorganised fly-by-night players who
will be affected."
"The banning of higher currency
notes is a major move which will help curb unaccounted cash in the real estate
sector," said Anuj Puri, Chairman and Country Head of the Indian arm of
global real estate services firm JLL India. The Total Investment & Insurance Solutions
"The effects will be far-reaching
and immediate and will shake up the sector in no uncertain way.
"Stricter measures against black
money have for long been required to help bring about greater transparency,
give the Indian real estate sector more credibility and make it more attractive
for foreign investors," Puri added.
The Total Investment & Insurance Solutions
According to him, black money deals were
more common on the unorganised market. But this practice had in fact been
decreasing due to greater awareness of buyers.
"Before too long, the caricatured
version of black money driving Indian real estate is no longer
applicable," he added.The Total
Investment & Insurance Solutions
No comments:
Post a Comment