Q:I just booked a 1BHK flat of 3200000(32 Lakhs) in Pune, I paid 50000 (Fifty Thousand) booking amount. Now I heared that real estate prices will reduce because of note ban by Government, So do I have to cancel the booking. And if prices will reduce, How much percentage it will reduce?
Latest Answer: Hi friends,
And i am very sure there will be little or no transactions in land, commercial spaces and sale of residential units in the resale market (secondary) for the next 3-months following the government’s decision to ban Rs 500 and Rs 1000 notes.
Latest Answer: Hi Sunil and Anand.....
Transaction volumes are also expected to go down in the real estate sector in the near term and there will be tremendous downward pressure on prices, especially in land and secondary market transactions. Notes of the two denominations were being used in most cases for buying property. Investors with white money will adopt a wait and watch approach in the hope that prices will decrease further. Notes of the two denominations were being used in most cases for buying property. Investors with white money will adopt a wait and watch approach in the hope that prices will decrease further.
