Zee Media Bureau
New Delhi: As you know that Rs 500 and Rs 1000 will go out of use from Tuesday midnight. The flushing out of high denomination notes from the economy is going to have an immediate impact on property prices.
The war on black money means that overheated property prices will crash and correct. It is to be noted that as much as the third, and the largest chunk of the black money in the country is used in buying property or real estate. Buyers use large chunk of black money by paying in cash and avoid property transaction taxes or stamp duty.
With fall in black money in property transactions, property prices are like;y to correct soon and come down to realistic levels.