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Demonetisation: house sales down by 40 pc in Hyderabad

Hyderabad: The impact of demonetisation of Rs. 500 and Rs. 1,000 notes is being felt in residential market. The fourth quarter of 2016 was declared as the worst three months for real estate. Sales fell 40 percent.

Earlier to demonetisation 3034 units were sold in the same duration. Real Estate Consultant Knight Frank India in its report stated that however there was improvement upto 30 pc in new launches. Transactions dipped by 6% in the second half of 2016.

Real Estate business was in full swing during 2012. Executive Director of Knight Frank India, Ghulam Zia told that it is expected that the sale of residential houses will rise in the coming days.

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