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The lingering impacts of note-ban and taxation and regulatory reforms, which hit the realty market in 2017, will continue to persist this year as the huge inventory pile-up and limited scope for distress sale leave them with any scope for a significant price hike, says a report.
The cascading effect of note-ban, implementation of Rera and GST had dampened investment in this sector in 2017, and led to a 5-7 per cent decline in average prices and there is no likelihood of prices clawing back this year, warned an industry report by Anarock Property Consultants.
“Although the tail-end of 2017 showed some signs of revival and there was an uptick in demand for ready-to-move-in properties, multitude of challenges in the form of lower prices and inventory pile-up will continue in 2018,” Anarock Chairman Anuj Puri said.
Sluggish demand along with bleak return on investment has impact the realty space since the past two-three years, Puri said.
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