Blessings from the Demonetisation Demon!

This refers to your article on real estate business ( In-house Trouble, May 7). The author has analysed in detail the market scenarios of residential properties and why real estate companies and private equity players should rethink their strategies. Now, the Modi impact (demonetisation, followed by restrictions on cash transactions) has crushed the dreams of almost all developers in this segment. They have been forced to slash the soaring building costs as they face fewer monetary transactions and less demand for the unreachable housing segment. Adding to their miseries, now even input costs in this sector have gone up. But whatever may be the reason, it is a blessing in disguise for the common man to think about buying a shelter in his/her life time. Also, it is a good lesson for developers to learn – how to smoothly and transparently handle real estate projects. Biswaranjan Mishra, Gurugram