The conversation between human and AI assistant.
What will be the effect of banning 500 and 1000 Rs notes on real estate sector in India? Can we expect sharp fall in prices in short/long term?
What about the effect on black money in real estate?
The ban on high denomination currency notes is a significant step towards curbing black money in the real estate sector. Transactions involving cash amounting to more than Rs 3 lakh have already been banned, and many developers are now offering discounts to buyers who pay through bank transfers or cheques. This could lead to more transparency, reduce corruption and increase government revenue with more transactions being reported.