Indian Government in a
coordinated way trapped all black money hoarders. The decision of
discontinuation of INR 500 & 1000 and replacing it with new 500 & 2000
note took all by surprise with no option to escape. Property segment rely on
hard cash and sector is under recession for the last 4 to 5 years.
Recently, Honorable Supreme Court
sent strong message to developer on delayed delivery to non delivery of
finished product to their end consumer.
Under pressure from all side, it
is expected that developer will cut prices heavily to generate cash to fulfill
to guideline of Supreme Court.
At the same time, lots of black
money is invested in property segment but the sudden wipe out of hard cash,
many will be forced to sell their property to generate cash to run their
business to fulfill other commitments rather than going to government with cash
and face heavy penalty plus jail term.
Both the above factor will play
as catalyst for short term which will depressed property price by 30 to 40 %.
The biggest hit will be experienced in Metro cities.
It's the right time for those
paying taxes and keeping it with bank to start thinking of owning their own
house.
Please also stay away from
investing in real estate based company stock for the next 6 months till the
picture gets clearer.
Disclaimer: Consult your
financial advisor before investing.
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