Realty sector getting back on its feet after demonetisation shock: JLL

According to Jones Lang LaSalle (JLL) India, the global real estate services firm specializing in commercial property and investment management, providing services for real estate owners, the residential sales of 2019 are yet to accomplish the pre-demonetisation levels in most of the cities in India. Here we can clearly see how the demonetization been impacted across different cities especially the metropolitan cities.  

Hyderabad being top chart in absorption and new completion, registering a 36 percent and 44 percent market share respectively. Hyderabad has registered for the maximum sales and Delhi registered for the lowest sales from January to September 2019 period. This year has been considered good for the real estate sector according to the reports of JLL. The real estate sector has reached an end of a very difficult situation without too much harm to policy interruptions and economic downturns. This was because of the economic reforms that happened during the last financial year. The major focus of real estate activities is at a higher growth in cities of Hyderabad rather than three metropolitan cities of Mumbai, Delhi, and Bengaluru. The survey shows that Hyderabad has accounted for 36 percent of sales.  Kolkata is being placed second by 17 percent sales.  Lowest sales have been registered by Delhi with 13 percent sales. During the period of January to September, most of the cities have registered an increase in the market price except Bengaluru. The reason behind this was that Garden City was impacted at a higher rate during the period of demonetization.

The survey shows that the impact of demonetization continued for a very long period in Kolkata. The recovery rate for this city was high according to the surveys. The city was able to tackle these crises exponentially. So the registered sales were 17 percent in 2019 compared to last year, the sales penetration was 28 percent. Demonetisation adversely affected Hyderabad. The city has not recovered from the sudden fall and has crossed the pre-demonetisation level. 
Recovering from a sudden fall is exponential for a nation's economic stability. The JLL was able to identify the bottom level causes related to the economic downturns for most of the cities. Moreover, there is a saturated platform for investors and those who are interested in expanding the market. The present scenario shows that the impact of demonetization for a shorter period of time is disappearing slowly and many of the cities have recovered from their adverse economic condition.