Property Prices In Delhi-NCR To Fall Thanks To Demonetisation

Black Money, Currency Ban, Demonetisation, Note Ban, PM Modi, Corruption, Real Estate, India, Delhi-NCR, Property Prices, Falling Prices
The demonetisation announcement has severely impacted the Delhi-NCR Property market.
  1. Experts say the Delhi-NCR property markets are the worst hit by the government's demonetisation move.
  2. Real estate brokers claim that property prices in certain Delhi-NCR micromarkets have fallen by 25% to 30%.
  3. Luxury and premium housing projects are expected to be the worst affected, with HNIs and investors staying away.

NEW DELHI: The government’s move to demonetize 500 and 1,000 rupee currency notes had taken everybody by surprise. And none more so than the Indian real estate sector and the Delhi-NCR property markets.

Delhi’s property market is a secondary market built around property owners reselling homes that they have obtained from the primary market (i.e. developers). And there is no hiding the fact that almost all transactions that take place here see a part of the property value being paid in cash, which is not reported to the tax authorities.  A practice that has come crashing down thanks to demonetisation and which experts claim will bring down property rates here.

“There is a lot of panic and shock among investors and builders. I see that in next 6-7 months, rates are going to go down. The transactions will be now more close to the circle rates. As of now, the rates have come down by 25% to 30%,” says Tarun Bhatia, vice-president of the National Association of Realtors of India.

This is seen on the ground, with real estate brokers talking about property deals being cancelled or altered due to the government’s decision.  For example, a property in South Delhi that was listed at Rs 3.25 Crore is now being offered at Rs 2.25 Crore, a drastic fall that indicates how over-inflated prices were in this market.

In a report, rating agency Fitch stated that homebuilders in the NCR will continue to face the heat as most sales of the higher-end properties were to high-net worth individuals and investors, two categories of buyers that have been hit badly by the government’s crackdown on black money.

“Homebuilders with greater exposure to large-ticket premium property projects are likely to be the most affected. Furthermore, we expect homebuilders more exposed to projects in the National Capital Region (NCR) to be hit more than in other regions, because NCR is known to have a greater reliance on cash-based transactions” says the Fitch report.

Amit Oberoi, national director of Colliers International claims that the Delhi-NCR property markets are already reeling under low transaction volumes due to circle rates being higher than the market rate. Demonetization will only see demand for real estate here reduce even further.

Edited By Nikhil Narayan Sivadas

59 thoughts on “Property Prices In Delhi-NCR To Fall Thanks To Demonetisation

  1. Its all jock . price wont come down due to currency change . U r just making u r mind calm . Latest news Deepika Padukon buy flat for 40 Cr :). If real estate falls in India . BJP is out :)

  2. Thanks to BJP, Yes Property Rates has been huge, as Still Brokers and Dealers Looking for the, Black Money, But Wait Guys the Rates are going more down as no one want to invest in such Makt..Thanks 

    1. Deepika padukon buy 40Cr flat . Business man , Actor , Polititions , Doctors have money to buy flats till 2.5 Cr . Only service person facing this problem . 

  3. The only possible outcome is correction of over-infalted rates of property. Already the transactions was low in real estate due to over priced rates but now with demonitization, property will be more affordable and hence mor transactions. In 6-9 months prices will start rising again. I was trying to sell my 2bhk ground flr corner flat in uttam nagar,delhi for 40 lac but now I am ready to accept 25-30 underscore kadian atttherate yahoo dot com (interested parties with white money, invited to contact) 

    1. Pl let us know your telephone number to enable me get in touh with you.  If using Whatsapp, pl state also.  My tel. No. 0041765193319

  4. Looking to buy closeout properties in Nazamuddin and DelhiNRI, will pay in US $ or by Bank check in Indian Rupees. Deepak

    1. Hi , I am associated with Saha Group , we only craft Premium Properties , presently we are having three projects running , AMADEUS in Sector 143 AN ULTRA-LUXURY PROJECT , STARTING FROM 2.4 Cr, Meghdutam ENCURE in Greater Noida West ( Commonly Known as Noida Extention ) Starting from 75 Lacs and Panchvati on Rajpur Road Dehradun starting from 70 lacs , you may contact me @ 9810313906, 9560100043

  5. 15 lacs dor 3br May be Not true as of now…. for property will go because current government will cut all fat….wait for some more time.. we have 3rd class infra ad property is cost very high..

    1. Yes Dear Property rates will fall , in fact its already started falling , but good properties with solid fundamentals will remain firm. High Value Commercials , Banglows and some inflated luxury properties will come down by 30-35%

    1. Dear Rohan,Could you please divulge some details about your floor like:-1. Locality2. Area in Square Yards3. Floor Number4. Construction Age5. Whether Freehold/Leasehold?6. In case of freehold property, the value of registry.7. Whether any PSU bank will be able to finance this purchase?8. Nearest metro station

  6. Wait for this winter session , Benami property Act…….. is waiting to to be inacted . Be ready to purcahse houses on Nilamies .  PM is gong to annouance a schemes like Currency , announce your property or ready to face the situation .

  7. If anyone offers a discount of more than 25% from last month, it is a buy. you will make a minimum of 25% profit within six months.

  8. As almost 90% of the salaried class people  buy the property from the primary market (straight from the builder and NOT through broker) by availing Housing Loan from Banks and other financial instutions, there is no effect of demonetization much , as the transactions are done legally and payments are made either through cheques or demand drafts. Only those people who are doing buying (investment for business) and selling the properties through Secondary Market, where 60:40 ration is done. These people are affected very much and where black money (unaccounted money) is involved. Genuine end users nothing to worry.

  9. This is an fake news. I am searching for an property to buy even now builders are increasing the price.  For them anyway money will come. They are business mans they know how to deal with it. If real estate is down each common man will get affected. One of my builder ready to give  for 1 Crore when before declares it. Now he is asking 1.15c… not ready to reduce. He says after Jan he will get lot of enquiry and closures… 

    1. He will definitily help people as he is doing now. All politicians are same we the comman people will struggle till age we die. #mitron 

  10. The news report suggests that prophesies of this Vedic astrology writer in article " 2017 – an opportune year for India with major worrisome concerns in February- March and August- September"  are trending to come accurate like those for the current year " 2016 – a woeful year for India with slight cheer in the end" published on 18 January 2016 in online magazine The times after 8 November 2016 till about March 2017 could likely be unique in which rich or poor , thief or saint , corrupt or non-corrupt , scamester or non-scamester is focused on three things – treasury , cash and ealth and their management. When housing prices have begun to come down , is it not an opportune time for those who were not able to buy so far? Look forward to more opportune time after about March 2017.

  11. The worst Builders in India are in Delhi NCR  as far as delivery is concerned and most projects are running under delays buyers anyways dont want to burn their money on buying under construction projects

  12. If prices fall due to lack of demand, then the builders will simply stop completing the projects. They will wait till the prices increase. Builders are a well-kint community who will ensure that the prices do not drop, just like OPEC, who control the oil prices. 

  13. Seems NDTV feeling cash crunch and didnt hire anyone to look after "Propery" section.  Three months gone. No updates. Some would mistake this article for current affairs. 

  14. I don't see any price down in property, people are still selling on property on same prices as earlier, and asking 50-60 percent cash in black and remaining amount should be finance from bank. I guess our government helped people to convert black money to white by charging some amount but actual corruption, balck money is still floating in market also don;t know wo ere these people who says property price to be falled more just go for a buy and get update.#comman man still down while rich gets richer #politicians enjoys there royalty # same story no changing India.

  15. Many bigger projects are going on and few people loot on it also. Only few are going on the right path and help the poor people. It's not properly channelised. Check a good consultant at Citadel Propcon

  16. It was a good step by the government, but still prices of a small flat  in NCR are beyond reach of a common man.Govt. affordable Housing scheme is appreciable. Necessary steps are still to be initiated by the present Govt. to provide low cost housing in the key areas to bring down housing prices in reach of a common man.

  17. We are urgently in need of kidney donor in a very good health condition for the sum of $470,000,00 and we will take properly care of the donor doling the whole process, here you can contact us via email address: or phone number-+919677345881 by name Dr Donald Moore.

  18. I am Dr.MORGAN PhD, here with interest on anyone willing
     to buy or sell his/her organ (kidney). Please Note:
     In the internet there are a lot of people with different motives,
     so please be sincere and truthful because we are not kids,
     this is about saving lives of others. Lives are at stake.
     Fraudulent act is not accepted please. 
    Interested persons should email us via
    Contact: +91-9944744865
    WhatsApp: +447480055292

  19. We are urgently in need of kidney donor in a very good health condition for the sum of $420,000,00 and we will take properly care of the donor doling the whole process, here you can contact us via email address: or chat me on whatsApp with this number+919677345881 or call this number+917028313517. by name Dr Donald

Leave a Reply

Your email address will not be published. Required fields are marked *