As per reports by a global property consultant, Chennai’s real estate market has got dented due to demonetization and it has incurred loss of Rs 1100 crore last year.
A 46 percent dip in residential apartment sale is observed between October and December 2016.
The sixth edition of half yearly report issued on Tuesday by the Chennai director Kanchanaa Krishnan in which he stated that only 2321 units were sold during last year as compared to 2015 where 4299 units were sold.
She further stated that the new launches plummeted by 29 percent. There was a relatively restrained decline last year of the range 9 percent.