For many city residents, owning a home has always been a distant dream. The highly unaffordable real estate prices force the people to stay majorly in rented houses. However, several recent events have created countless possibilities of owing a property of their choice and preference.
The government’s recent surprising move to nail down on black money hoarders across the country by banning Rs 500 and Rs 1,000 notes is anticipated to have a great effect on certain pockets of both the residential and commercial markets across the country, and especially in the national capital region.
Everybody is talking about these effects but most are clueless about the nature of these effects. As per the analysis of the reputed property consultant of the national capital region – DDA Smart Cities, this so-called can be classified into two main parts-
Impact on Primary or Fresh Market-
The term Primary is used to define purely ethical, apparent, transparent and appropriate dealings which take place only through pure white methodologies. The people who used to deal in these ways will not have any major effect because all their dealings were always open and transparent. However, the impact as estimated and anticipated by the DDA Smart Cities will have only 5 to 10% impact which may last only for 3 to 6 months. One of the ray of hope and possibility associated with fresh market is that people who used to finalized their dealings in the secondary market having some discrepancies, would be compelled to move to Fresh Market due to some limitations of the secondary market.
Effects on Secondary Market-
Secondary market is the term that is used for denoting and redefining the property dealings that are made between two or more persons in which one is giver and the other one taker. Buyer and seller should the perfect word to define this mode. This format involves the money which is transacted in two parts. The one way is transparent which is made open, and the other one is hid by all the involved people. At this juncture when demonetization has come up to cast its spell upon each and every walk of life, the cash crunch will compel the people to do the things in different behavior. As per the comprehensive analysis made by the reputed Dwarka L Zone based consultant DDA Smart Cities, the impact will last only for 6-12 months and the dealings affected will be only 15 to 25%.
People should not stay clueless about these impacts
If you are the one who is highly apprehensive about the impacts of demonetization on the property market, then you should seek proper and well analyzed consultancy services from DDA Smart Cities. Needless to say, each and every bad impact or circumstance has a silver lining, and the demonetization also has offered many opportunities to be grabbed by the people like you. Once you are guided, you will find yourself able to make the most of this highly precious opportunity.