A major part of 2016 passed with an anticipation of an impending upswing in Indian real estate. In the first half, legislative processes in the parliament kept the movement limited, and then, a near grinding halt was witnessed in the last quarter, with the ‘demonetisation’ event.
Only for a few weeks, during the festive season, there was a slight dash of hope.
However, there is a much bigger picture that is waiting to emerge. 2017, in all likelihood, is poised as a foundation-year for a different real estate scenario. This new picture needs to be understood carefully, notwithstanding the grey-areas which will continue to cloud our views at the stage.
It is important to try and develop an outlook on structure (organisation), volumes, and average prices of real estate. Further, we must also keep in mind that different geographies, or locations, will continue to tread differently, and with diverse paths.
Though ‘demonetisation’ has already sunk-in, most people are still mystified by its impact. It must be seen as a part of a series. It is evident that it has halted or slowed a substantial part of transactions across the country in the last two months.
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