Currency Demonetisation To Impact The Real Estate Sector

1
Property Loan
2
Currency Demonetisation To Impact The Real Estate
Sector
3

• How will currency demonetisation impact property
  rates?
• For a long time, the real estate vertical has
  been a safe haven for parking black money. Though
  the government has time and again emphasized the
  need to crackdown on black money circulation, the
  real estate industrywhere about one-third of the
  transactions happen in blackhas reacted
  passively to the claims.

4

• In spite of advancements in online banking, most
  Property Loan - related transactions happen in
  cash or in a mix of cash and cheque.
• In most cases, the cash component of the
  transactions represents black money, while the
  cheque represents white money.
• As per media reports, anything between 10 to 70
  percent of the value of a property is transacted
  in cash.

5

• Though the move is good news for prospective home
  buyers, a lot of people who have sold their
  property recently are likely to find themselves
  in a fix.
• This is because even if one wishes to sell a
  property in exchange for all white money, there
  will be few buyers who will come forward to
  undertake such a transaction.
• Most buyers prefer to make part payments in black
  to lower tax hits.
• Source https//blog.bankbazaar.com/currency-demon
  etisation-to-impact-the-real-estate-sector/

6
Follow us on
https//www.facebook.com/HDFCHomeLoanExperts
https//twitter.com/HomeLoansByHDFC
https//www.youtube.com/user/hdfcltd
https//www.linkedin.com/company/hdfc?trktop_nav_
home
7
Click to know more on Property Loan https//www.h
dfc.com/loan-against-property
Thank You