Real estate cos expect industry slowdown to last 2-3 months

The biggest real estate developers of South India have admitted that post demonetisation customers are going slow on buying properties. However, they believe this phenomenon will be restricted to 2-3 months and things will look up for the sector post January.CNBC-TV18 caught up with the heads of Sobha, Prestige Group and Brigade Group to understand the impact on both housing and commercial real estate across South India.MR Jaishankar, Chairman and Managing Director of Brigade Group says the customers are in a wait-and-watch mode. Although, he adds, commercial real estate has not been affected.The premium segment in real estate continues to do well despite the demonetisation, says Irfan Razack, Chairman and Managing Director, Prestige Group.Watch video for more...