New Delhi: Housing prices in 42 major cities across the country might drop by up to 30 per cent over the next 6-12 months as an effect of demonetisation.
“In the aftermath of demonetisation impact on Indian real estate sector, market value of residential property of Rs 802,874 crore is expected to be wiped off in the next 6-12 months,” said PropEquity in a statement.
Maximum fall on total market valuation will be in Mumbai Rs 2,00,330 crore followed by Bangalore by Rs 99,983 crore and Gurgaon Rs 79,059 crore.
PropEquity added that there has been a surge in unprecedented transactions in last 15 days with many people trying to convert their black money into white money.
First Published | 24 November 2016 8:42 PM