Real estate developers said the government’s decision to curb black money would reduce and bring transparency into the sector. “Land transactions and luxury residential segment would be impacted the most because they employ the maximum black money. In the short term, land prices and prices of luxury homes will see a correction of around 20-30%,” said Pankaj Kapoor, managing director, Liases Foras, a property advisory firm. I expect real estate prices to come down. “In addition to eliminating black money this will definitely bring down corruption at least for a while.

Source: Mint November 08, 2016 18:18 UTC