A property brokers organisation in Indore today claimed that no slump has been reported in the real estate prices in local market following demonetisation.
"The perception that the real estate market has been sluggish after demonetisation was incorrect. The real estate prices have not come down in the city following demonetisation," Indore Realtors Welfare Association (IRWA) president Bhupendra Joshi told reporters.
He said the developers who started their projects without proper infrastructure have been facing problems.
Joshi said their organisation had been creating awareness among the local property brokers about registration and provisions of Real Estate Regulatory Authority (RERA) so that their business can be transparent and streamlined.
He also said that IRWA was organising a national convention in Indore on December 15 to discuss the future challenges before brokers.
Around 500 representatives of real estate business are expected to attend the convention, Joshi added.
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