Everyone wondered and speculated that the demonetisation has its severe adverse effect on the real estate industry in bangalore, but surprise, alas, this PARADOX has taken everyone by surprise.
The real estate market for ready apartments has more takers and are in better positioned, the prices have surely stabilised and the demonetisation and remonetisation has little effect or impact, but the budget apartments are in demand.
The registration of properties has slightly picked up but another surprise is that the price and the sale consideration and the registration value have reached ONE SINGLE UNIT, it means that there is very little cash or black money transactions.
The tax evasion is also being investigated by the State Government, which involves the seller, buyer and the banks. Stamp Duty evasion is a major concern and alarming. Many buyers and the sellers have to shell down or will be penalised at 10 times ( the stamp duty amount evaded).