NASHIK: The authorities’s selection to demonetize antique excessive-cost foreign money notes has hit Assets transactions difficult within the town.
Ever when you consider that High Minister Narendra Modi made the announcement, the sale and buy of houses in Nashik have declined with the aid of forty six%, i.E. among November nine and 16.
Assets in the office of the joint district registrar and collector of stamp, stated, “Round 310 sale and buy of residences have been recorded between November eight and 16, as against 570 from November 1 to eight, earlier than the demonetization decision become taken. Non-availability of cash and crowded banks are the reasons behind it. Furthermore, humans have additionally adopted the wait-and-watch coverage.”
Pravin Waykole, sub-registrar inside the office, said, “There are six offices of sub-registrars within the town. Round 20-25 sale and purchase of properties are recorded at each workplace every day on a mean. But Property transactions have declined to Around 10-12 transaction now. There’s scarcity of foreign money notes. Except, the human beings also can be visible standing in long queues out of doors banks.”
Jayesh Thakkar, former president of Confederation of Actual Estate Builders Affiliation of India (CREDAI), Nashik, said, “This is a brief segment. humans are busy replacing or depositing cash at banks. They’re also ready to get the state of affairs go back to normalcy. I assume that realty sector might be returned heading in the right direction by way of December-cease.”
The fees of mid-size flats within the metropolis are within the range of Rs 35-forty lakh. high-cease apartments in upmarket regions which include Gangapur Road, College Avenue and Mahatma Nagar value in the variety of Rs 5,000-7,500 per sq.feet.