The bad effects of demonization can be seen in many economic sections, with the exception of real estate. Here is an explanation of how demonization turns out to be a blessing hiding for the real estate market in India, especially in Dwarka, NCR.
Irreplaceable infrastructure
With some of the best infrastructures in Delhi and surrounding areas, Dwarka boasts some of the best schools, medical centers and recreation centers. Its proximity to the international airport and IT hubs in Gururam and Noida makes it even more attractive to buyers.
Think about it, demonization may have influenced the purchase and sale of goods or products due to lack of cash, but this did not affect the sphere of employment.
People will come to Noida or Gururam to work, and they will need a suitable place to live. Dwarka will be their first and last choice, given the array of infrastructure.
With upcoming DDA sales for sale in Dwarka or apartments for sale in the city, it still remains a promising prospect for real estate dealers here.
Buyer holds power
The cash crisis is observed in all sectors of the Indian economy. Naturally, the real estate sector also faces the same problem. This suggests that he needs a liquid flow of money.
While the main agenda of demonization is black money, people with a legitimate source of income have nothing to worry about. In any case, the purchase of real estate is a long-term plan, and people make a down payment on the basis of their savings. The rest is loans.
In fact, it gives customers more room to negotiate, and developers need to listen because they need money.
DDA plans as Savior
The property experienced a surge due to the existing DDA apartments for sale in Dwarka. DDA stands for the Delhi Development Center, and their credentials cannot be assigned. It should be noted that DDA allocated 3,753.87 million Rupees for the construction of apartments in its budgets for 2016–17.
In addition, she also said that the registration of apartments will be easier, due to the fact that she previously took a lot of time. Naturally, people's interest in Dwarka real estate will grow. Thanks to its main agenda for servicing the middle and lower middle class in society, a surge in their sales can be observed as these sections plan their investments in advance. Of course, demonization has nothing to do with it.
Low interest rates
Post demonization, banks will have more liquid money because of deposits coming from banking channels. This will inevitably lead to improved credit conditions and cheaper loans.
Property owners in Dwarka expect that RBI will reduce repo rates by at least 1.5-2%, that is, mortgage interest rates will decrease by 7-8%.
This, in turn, will increase the number of buyers who would like to take advantage of the territory with a low percentage.
