Demonetisation has lowered land prices: Modi
- IndiaGlitz, [Thursday,January 31 2019]
Speaking at an event, Narendra Modi has said that houses have become more affordable in the country due to Demonetisation. The move to demonetize notes has resulted in bringing down the prices of houses by reducing land prices and making them affordable for the youth, the Prime Minister said.
Modi, opening up DeMo to intense scrutiny once again, claimed that the previous government would have taken 25 years to pull off what the abrogation of high-denomination notes achieved in 2016.
I was asked what has been the benefit of note ban decision. You should ask it to the youth, who could buy residential homes at affordable rates after the decision. Black money used to be parked in the real estate sector, but with decisions like note ban and RERA, we put a check to it, Modi has been quoted as saying by a news agency.
My government has constructed about 1.30 crore houses. The UPA did just 2.5 million, Modi added.