Demonetisation to now, black money in housing deals down 80%, says Anarock

In the pre-demonetisation period, new supply outstripped housing sales - whereas, in the post-demonetisation period, housing sales overtook new supply in the top 7 cities

The use of black money in Indian housing has reduced by at least 75-80 per cent since November 2016 when the government demonetised the bulk of the country's currency, real estate consulting firm Anarock said on Wednesday.

"One major driving factor behind this is that branded, listed players - who now attract a significant majority of housing demand to their projects - play by the book and avoid unaccounted monies in their transactions," said Anarock Chairman Anuj Puri.

"Today, the housing sector's rough ride due to demonetisation has smoothened. Still, DeMo has changed the very fundamentals of why and how