Snippets: Govt's moves may revive resale market despite initial dip

Some property consultants believe that policies such as demonetisation, Rera and GST have worked to drive 10-12% increase in the number of buyers in the secondary real estate since demonetisation

Have the government’s moves to clean up the real estate sector benefited the resale (or secondary sales) market despite initial dip or apprehensions? Some property consultants believe that is the case. Policies such as demonetisation, Real Estate Regulatory Authority, GST, Real estate investment trusts, the Benami Transactions (Prohibition) Amendment Act, 2016, and the Pradhan Mantri Awaas Yojana, among others, have worked in different ways to drive a 10-12 per cent increase in the number of buyers in the secondary real estate since demonetisation. Property value in the secondary market reduced by as much as 5-10 per cent over the primary