“That which does not kill us, makes us stronger” – Friedrich Nietzsche

Anuj Puri, Chairman – ANAROCK Property Consultants

Over the past one year, demonetisation has been a buzzword across all Indian industries, but much more so in real estate.

The radical move of banning high-value currency notes, seen as the Government’s surgical strike on black money, has become a landmark event in the history of the Indian economy.

Looking back on Year 1 AD (After Demonetisation), it is plain to see that it has brought significant disruptions into the overall economy – and particularly the real estate sector.

The rolling out of key policy reforms such as the Real Estate (Regulation and Development) Act [RERA] and the Goods and Services Tax [GST] compounded the aftermath effects of demonetization.

Although there was a lot of confusion and uncertainty immediately after demonetization, the shadow of this radical move now appears to be fading.

The long-term effects of demonetization on the real estate sector are aptly summed up by the wise words of the German philosopher,