Hahahahahahahahahahaha . keep it up , people are going to laugh the left out of office until this doublethink stops . <| sep |># Housing prices to drop up to 30 %, wiping Rs 8 lakh crore in valueNEW DELHI Housing prices in 42 major cities across India could drop by up to 30 per cent over 612 months after the demonetisation of highvalue notes , wiping out over Rs 8 lakh crore worth market value of residential properties sold and unsold by developers since 2008 . In the aftermath of demonetisation impact on Indian real estate sector , market value of residential property of Rs 802 , 874 crore is expected to be wiped off in the next 612 months , PropEquity said in a statement . PE Analytics owns and operates PropEquity which is an online subscription based real estate data and analytics platform covering over 83 , 650 projects of 22 , 202 developers across over 42 cities in India . According to PropEquity research , residential real estate valuation in the top 42 cities in India , sold and unsold , will take a tumble and fall up to 30 per cent from Rs 39 , 55 , 044 crore by approx Rs 8 , 02 , 874 crore to Rs 31 , 52 , 170 crore , it added . The market value is of 49 , 42 , 637 units , which are builtup ready , under construction and currently launched properties , available and sold since 2008 for 42 cities . Maximum fall on total market valuation will be in Mumbai Rs 2 , 00 , 330 crore followed by Bangalore by Rs 99 , 983 crore and Gurgaon Rs 79 , 059 . Indian realty is now bracing for subprime level crisis , which is expected to deeply impact the core of unorganised real estate and black money , PropEquity said . We expect lot of secondary market transactions resales coming down in volume . For every five buyers out there , there is only one buyer willing to pay allcheque . And usually , people want to take at least 20 to 30 percent of the amount in cash , but this will now go away for the time being , Samir Jasuja , CEO and Founder of PropEquity said . There will be almost a complete stop in resales in the coming weeks as this move will take sometime for real estate sector to absorb , he added . PropEquity also said that there have been unprecedented transactions in last 15 days with lot of people trying to convert their unaccounted money into real estate . But this will also mean that we can expect more formal and organised developers to weather this storm and will relatively be in a better position in the next 912 months , it said . In our view , there will be acute pain in the shortterm but in the mid to long run it will be hugely beneficial for Indian realty as it will create lot of transparency , PropEquity said . Version 0 . 5 b Function I post the article ' s text as a comment if the website is adblocker unfriendly . I accept commands ! Rendered by PROMETHEUS