What say, guys? Do you think the real estate sector has recovered the effects of demonetization and is back on track now? Well, already we can hear the murmurs in favor of emphatic yes. And indeed, it is Yes! How? Did I hear someone asking? Well, read on to know about 5 important points that are testimony of the fact that the real estate sector has indeed recovered from the adverse effects of demonetization and is now fast returning to normalcy.
Lower Home Loan Rates
Demonetization has compelled the unorganized and the small-scale industrial sector to deposit their savings in the bank. This has led to the reserves of the bank growing appreciably which allows them to offer home loans at remarkably low rates.
Revived the Stalled Projects
Projects that were stalled midway due to cash crunch gathered momentum. The cash-rich banks ensured that the sector availed loans at better rates than was the case earlier, offering major relief to the customers.
Demonetization has led to better accounting which resulted in a greater collection of taxes. This gave the government more resources to invest in the infrastructural development in the country. Superior roads, metro connectivity, more SEZ, etc. have come up, which empowers the customers who have invested particularly in affordable housing projects set in the outskirts.
Transparent Home Purchase Process
Demonetization is a step towards a cashless economy which would prove to be beneficial for buyers in terms of transparency, smooth usage, and time-saving.
A Market for Home Buyers
Though demonetization has made everyone cautious when it comes to expenses, it should not be forgotten that it also threw up a wonderful opportunity for homebuyers. From builders trying to sell their unsold projects at slashed prices to banks willing to offer home loans at a reduced rate, demonetization opened the market for homebuyers who can now fulfill their desire of owning a house easily and without much hassle.
Trust SMC Realty to help you find your dream house at the best possible rates and from the top developers of the country. Click here to know more.