Smaller cities see big gains: Home prices on the rise despite note ban

NHB Residex Index showed there had been big gains in smaller cities

Demonetisation did not choke the real estate sector, according to data released by the National Housing Board (NHB).

As many as 26 of 50 urban hubs across the country have shown a moderate upturn in housing prices between December 2016 and March 2017, an NHB index has said.

The list covering metros, state capitals and smaller cities indicated demonetisation did not strangle the real estate sector after the announcement by Prime Minister Narendra Modi on November 8. The months after the announcement had seen a severe shortage in cash transactions. Several sectors had said they were severely affected as people