India 2 December 2016: “The recent demonetization is a powerful move to address various issues (economic and social) faced by the nation, which will also impact the Real Estate Industry positively over time. The demonetization will have both a direct and an indirect impact on the Real Estate sector.
This move alters the macros of the economy due to higher liquidity, resulting in lower inflation and cost of borrowing. This would lead to interest rate sensitive sectors like Real Estate to expand its growth through high sale volumes, in a totally new environment within the ambit of the “Real Estate Regulatory Authority”. We believe that this will fundamentally push for “Uniform pricing” in Real Estate, thereby boosting consumer confidence, transparency and trust in the sector.
Over time, this will undoubtedly bring about a paradigm shift in consumer behaviour, and will revolutionize the Indian economy. We are happy to note that this move is in alignment with our organization’s core values, of corporate governance and transparency that have been adopted and institutionalized since inception”
by Ashish Puravankara – Managing Director, Puravankara Projects Ltd