A sudden ban on the existing Rs. 500 and Rs. 1000 currency on 8th Nov
16’notes shook the Indian economy and real estate sector which was evident
after the third quarter of the financial year 2016-17. The announcement of
demonetization and implementation of the Benami Properties Act for
unregulated properties took place in the same year. Economists predicted
the growth rate of the real estate sector to slow down more than ever as a
result. The sector has been ridden with many challenges for the past few
decades owing to lack of a uniform framework. Demonetization brought
about many challenges but also alleviated some of these issues.
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