Note ban did not affect primary market: Credai

Noida: The primary real estate market remained unmoved by the demonitization of bank notes. The NCR wing of Confederation of Real Estate Developers Association of India (Credai) said that builder-buyer transactions were not affected as they are all made either through fund transfer or via cheques.
“There is a perception that Real Estate market was affected on Wednesday morning because of the cash flow crunch, but the buying-selling department was not affected at all.While most of our transactions are cash free now, this has been a boon for the real estate industry. We see very good long term prospects emerging from this for the real estate industry” NCR Credai, president, Manoj Gaur said.