Demonetisation: Right time to buy property; price fall unlikely:Prestige Estates

Terming the demonetisation move by PM Narendra Modi as a masterstroke, Irfan Razack, Chairman and Managing Director, Prestige Estates says the time is in fact right to buy property because the fall in property prices is unlikely.

He says, currently there is lots of talk going on social media, which is creating fear in the mind of people and so they seem to have gone into a wait-and-watch mode. However, things will settle down soon and panic will be cleared, says Razack, adding that the whole scheme is beneficial to the customers.

He does not envisage any problem for sales in the primary market but maybe secondary market sales and luxury goods could see an impact.

Most organised players are working towards delivering what has been promised to the customer, says Razack, adding that customer satisfaction is their goal.For the entire discussion, watch video