India 10 November 2016:
Mr. Neeraj Gulati, Managing Director – Assotech Realty (P) Ltd
“It is a powerful tool to curb unaccounted money and corruption . It is a great welcome initiative which will help country and countryman in longer terms. End user in real estate will get benefit.
ALPHA CORPQuote from Mr. Ashish Sarin, CEO, Alpha Corp
“There is a widespread corruption in the system and the government had to take stern measures to weed out corruption from the grassroots level. Hon’ble Prime Minister’s move along with bringing transparency in the sector would also be instrumental in easing up the approval process. Demonetisation of Rs 1,000 and Rs 500 notes would be instrumental in eradicating black money out from the transactions and will strengthen the banking channel as monies will get in to the banking system. The move however would impact the unorganised real estate players and the market will see correction in the short run but in the longer run it will benefit the overall real estate sector.”
“I would like to state that Alpha Corp would not be impacted by this move because we have been operating on 100% legit money.” Added Mr.Sarin
Quote by Emaar official spokesperson
“This is a bold step taken by Hon’ble Prime Minister Shri Narendra Modi, and should have a comprehensive impact on the overall economy. This move, along with RERA norms, will bring long-term fundamental changes in the Real Estate sector which is also set to gain from the increased transparency, and organized developers such as Emaar and others will be leading the way to this change. This would also present a good opportunity for home buyers to buy their dream homes, thereby boosting the overall market sentiments. We believe that in long-term, this is a positive development for the industry.”
Vishvaraj Infrastructure Ltd.
Mr. Arun Lakhani, Chairman and Managing Director, Vishvaraj Infrastructure Ltd.
"We welcome and congratulate Prime Minister Shri Narendra Modi for this bold initiative against corruption. It’s a very bold and far reaching step by the Prime Minister. We are proud to have such a person at the helm of our country. He has once again proven his commitment to clean up the system and provide healthy business environment to the society.”