Registration of properties fall
Following ban on Rs 500 and Rs 1,000 notes, there has been a sharp decline in purchase and registration of properties. “As per record of 176 registrar offices, which are connected online, 653 got their property registered on Wednesday,” said an additional registrar. In Jaipur, 46 registrations were formalised against an average of about 1,000 registrations daily. Vice-president of confederation of Real Estate Developers’ Association of India (Credai) Anurag Sharma is optimistic and said, “The potential buyers would continue to purchase flats and there will demand of flats upto Rs 50-60 lakh. Also developers would not be impacted as land transactions in cash has significantly reduced in recent past after the real estate market was regulated to an extent.”
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