Modi Government has ban on old note of Rs. 500 and Rs. 1000 currency on 8/11/2016. After that the use of these currency became invalid for any transaction.
By this step the property market index is going dull in Indian cities. Because the purchaser have not enough amount to purchase land or flat by cash. Purchaser does not want disclose the amount of black money in cash by deposit in bank account. So, the investment in property became best way for save black money currencies.
But after ban on big amount currency all notes became illegal in open market. So, purchaser are not able invest in property by black money currency.
So that the number of purchaser of property goes down. Thousands of flats are vacant and no any purchaser are ready for buy flats in high rates. So, builders are giving heavy discounts on flats in all over on India. The price of property is going down sharply. Here is list of price of flat in apartment of following metro city.
|2 BHK||3 BHK|
|Gurugram||Rs. 25,00,00||Rs. 40,00,000|
|Noida||Rs. 30,00,000||Rs. 55,00,000|
|Navi Mumbai||Rs. 55,00,000||Rs. 70,00,000|
|Kolkata||Rs. 40,00,000||Rs. 55,00,000|
|Pune||Rs. 40,00,000||Rs, 60,00,000|
|Patna||Rs. 35,00,000||Rs. 40,00,000|
|Ranchi||Rs. 30,00,000||Rs. 40,00,000|
|Chennai||Rs. 45,00,000||Rs. 55,00,000|
|Lucknow||Rs. 35,00,000||Rs. 45,00,000|
|Chandigadh||Rs. 40,00,000||Rs. 55,00,000|
|Hyderabad||Rs. 38,00,000||Rs. 50,00,000|
|Bhopal||Rs. 45,00,000||Rs, 65,00,000|
|Jaipur||Rs. 28,00,000||Rs, 37,00,000|
|Kalyan||Rs. 45,00,000||Rs, 60,00,000|
|Thane||Rs. 55,00,000||Rs. 60,00,000|
|Nasik||Rs. 40,00,000||Rs. 50,00,000|
|Surat||Rs. 45,00,000||Rs. 55,00,000|
|Ahmedabad||Rs. 50,00,000||Rs. 65,00,000|
|Indore||Rs. 30,00,000||Rs. 40,00,000|
|Bangalore||Rs. 45,00,000||Rs, 75,00,000|