The heat of the ban of the big currency notes has caught the real estate stocks in the market. The midnight announcement by PM Modi has struck the real estate share to fell down by 10% to 20%. The suffering big real estate giants are DLF, Unitech, Godrej Properties, Indiabulls Real Estate, Sobha, Oberoi , HDIL and Unitech.

“High investor-driven markets, NCR and Mumbai and high-ticket size units will feel the pressure of sales in the near-term. It will also affect transactions in the short-term, which in entities with high leverage could add pressure,” said Samar Sarda of Kotak Institutional Equities.

This storm will continue to hit the real estate business for about four to six months, as said by the experts.

“High investor-driven markets, NCR and Mumbai and high-ticket size units will feel the pressure of sales in the near-term. It will also affect transactions in the short-term, which in entities with high leverage could add pressure,” said Samar Sarda of Kotak Institutional Equities.

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