Cash not prevalent in primary market: Jindal Realty MD, Gaurav Jain

Demonetisation has paralysed the economy, at least for the time being, and there is no section of the industry which is spared of its adverse impact. Real estate sector is no exception. Though there is a word around that realty was one of the targets of the Prime Minister Modi’s historic announcement on November 8 and the sector is virtually doomed, Realty & More tried to get the first-hand feel from some of the involved players. Gaurav Jain, MD & CEO of Jindal Realty Pvt. Ltd, the first person we spoke to in this regard was of the opinion that the primary market where key developers are operating will be hit in the short term but in the long run, the move will have a positive effect. However, he did concede that the secondary market will be impacted majorly. Besides sharing with us the market scenario in general and how it will transform post-demonetisation, the professional entrepreneur with over 20 years’ experience in the industry talked in detail about Jindal Realty.