Rs 500, Rs 1,000 Currency Banned - Impact on Different Segments in India
Rs 500, Rs 1,000 currency banned, this arguably the biggest crackdown for Indians ever-seen against the black-money holder to create a bottle-neck for fake currency dealers and flimsy money holders. If you remember, the Modi’s government eliminated the black money in September where they outlined about Rs 65,250 crore worth money.
Don’t live under a rock, get quick summary on the brilliant step taking for the sea change:-
- Black money control, Rs 500, Rs 1,000 currency banned from now
- ATM’s dead for two days, 9 & 10th November
- Essential places like Hospital, Chemist, petrol pumps and train plus airline booking money (old) is acceptable till 11th November
- Online, card, cheque or any plastic money exempt from this new rule
- 9th November, banks closed for public services
- Fresh note of Rs 500 and Rs 2000 would come into circulation from probably 31st March 2017
- Last date to replace old money is 31st March 2017 (tentative)
- New notes can be fetched max Rs 10,000/day, max Rs 20000/week, 10th November
- 10-18 November- max Rs 20000/day and 19 November onwards, max Rs 40000/day
This sterling step may irk the common man for a day, but this sure-fire step going to boost the country’s stability and pop out better things out, illegal cash hoarders need to lose their sleep, but the rest of the hard-working group can loosen up and the distraught people to whom no time was given to think of substitute plans scream for a help, but nothing good will take place .
UNDERSTAND THE REAL IMPACT HERE
Government gave enough Carte Blanche to illegal cash hoarders, but this time things are out and transparency will be maintained so that this step is not a fiasco, as many steps cropped-up, but nothing great happened out of it.
India is the 3rd largest exporter of dirty money and bountiful of black-money is involved in every work and to kick that out from roots such part and parcel step has been taken which was important to be worked on manier years for the better and crime-free society. So we immensely welcome with new step by Modi Government to disconnect with bad-elements and make entire country free from corruption.
REAL ESTATE BUILDERS CYNOSURE IN THIS ENTIRE GAME
Real estate one of the prime realms where the heavy involvement of cash flow to avoid tax takes place now gets a complete full-stop, now probably thousands of crores exchange of money will be trashed that will pushed the rates to drop. In two ways the payment is done- cheque and through cash, where cash part is not recorded.
Unnamed and hidden brokers and builders will remain unknown, as their intact work was running from the illegal cash, and now when things are going to be transparent, they won’t be able to maintain their stability, flimsy promises and dupe by builders won’t get any space in this sea change time.
Real time affordable property options, consider after this courageous step against currency
Affordable properties are daunting to find because of not that comfortable price range and where as a purchaser they find it difficult to plan their lucrative investment, so in that case, they look for reliable properties to consider for their peaceful future. Considering that; Tata Value Homes and many more builders are working vigorously on “Affordable Segment Happy Segment” to provide full ease to the home buyers. Some of the top affordable projects- Tata New Haven Bahadurgarh & Tata Value Homes Noida.
According to the details, about 75 per cent of funds to political parties remain unidentified and like this many more capital is hidden that will come into limelight. So real estate market will be pure as any other pure business where the involvement of capital will be straight without making any hole.
Now actual cost will be involved in property and there will not be any two way investment, there is only one way to make straight investment with the money which is legal.
Modi imposed a penalty of 20 per cent on all cash transactions go over by Rs 20,000 to purchase or sell a property; this will trim down black money. Happy news, now the affordable home segment will take place where end-users will find is comfortable to book their dream home. Now when investors won’t able to deploy their capital in real estate this will directly affect the property price and unfortunately, builders re-plan their projects and launch them in a price range that is appealing plus affordable.
Market will see around d 30 per cent correction in property prices, so good opportunity for end users who hankered for property investment but it was a far-fetched dream because of the sky touching prices, such important statements are also given by the major players like DLF, Tata Housing and Godrej Properties.
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