Demonetisation to Help Revive Affordable Housing Segment.

Demonetisation will help revive the latent demand in the housing sector as people now hope to buy houses in transparent deals, said Sriram Kalyanaraman, managing director & CEO, National Housing Bank. In an exclusive chat with ET’s Saikat Das, Kalyanaraman said some segments of the housing sector will especially benefit from it as prices may correct 15-20% with adequate supplies. Edited excerpts…
Will demonetisation drive demand in the housing sector in direct foreign investment in India?
Housing finance is a long term requirement, and the demonetisation exercise will have a long term impact as it will benefit both consumers and the industry. Most of the housing finance players have put in place systems for e-payments and e-receipts in chartered accountant firms in mumbai. Demonetisation will further improve the use of e-transactions and reduce cash dealings. It will result in greater transparency in property contracts, which will also bring in greater professionalism in the industry. As a result, the latent demand, particularly in the affordable segment is expected to revive, thereby increasing sales.

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Here is how to get RS, 2000 home delivered via snapdeal

Still facing a cash crunch following demonetisation? Snapdeal has you covered. The Indian e-commerce major has announced today the launch of a new service, dubbed ‘Cash@Home’ that will allow customers to order cash and have it delivered to them at their doorstep.
Snapdeal is calling the new service as a goodwill gesture to users, allowing for easier access to cash without the hassle of queuing up at banks or ATMs. Snapdeal will be using the cash it receives during Cash on Delivery (CoD) to provide other users with cash in wholly owned subsidiary in India. A user can now request Rs 2,000 with every booking and will be able to pay for it using an ATM card from any bank. Snapdeal adds that ‘customers are not obliged to order anything else to access this new facility’.

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Demonetisation: Currency Recall Could Cost India a Massive Rs 1.28 lakh crore

The transaction cost of the government’s demonetisation exercise is projected to be about Rs 1.28 lakh crore during the 50-day window till December 30, 2016, according to Centre for Monitoring Indian Economy (CMIE) estimates. According to Mahesh Vyas, the managing director and chief economist of CMIE, the exercise can only be considered worth if the government is able to unearth unaccounted cash worth at least the transaction cost. “If the government succeeds in unearthing even Rs.4 trillion unaccounted cash, then the transaction cost of this exercise would be about 26 per cent. It would be over 43 per cent if the unearthed cash is Rs.3 trillion,” Vyas said in his research note.

Though welcomed by many across the country, the government’s decision to demonetise higher currencies has left many in the lurch and utter state of confusion. The study also warned the impact of the rudimentary step could impact the economy over a longer period.

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