Effects of Demonetization on Real Estate
A sudden emergency situation occurred on 8th November. Overnight the higher Indian currency was nullified by a sudden announcement by the PM in order to clean out the black money of the country. The whole nation panicked, abruptly they become cash-starved, demonetization left people to snarl up in long queues. But people realized the greater good this move will accomplish in cleaning out black money from the economy in the long run.
Most of India’s business environment has been tremendously shaken up after this bold step of demonetization. However, Real Estate Sector is heading towards a bright future. It indeed has a positive impact on the sector.
Here is some beneficiary outcome of this bold move:
Reasonable Home Loans
Owning a home is going to be a dream come true for the people who cannot afford the high EMIs on housing loans. Banks are now overflowing with funds are likely to cut down 7-8% interest rates on home loans.
As the interest rates are going down on loans it will attract more middle -class genuine buyers. As people can not keep currency in cash form they will switch to beneficiary investments. Also, crore of new people are entering into the banking system, possibilities are they will also be eligible for house loans to fulfill their dream to own a house.
Hence, demonetization may prove to be a turning point in Real Estate Sector. Expectantly more consumers will now invest in quality homes from trustworthy brands.
We at Migsun are advocates of the traditional values which India has embraced since so long. Customer satisfaction through quality construction is our topmost priority. We work with a clean conscience and we are cautiously transparent in all real estate dealings. Agility and quick response towards needs of the customer relating to their investments is something we pride on. We are trusted by over 3000 families who are proudly owning their dream house. We make sure that money can’t stop you from fulfilling your dream of buying a home.