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Modi's cash crackdown, new laws hurt India's real estate sector

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Residential buildings under construction by the Jaypee group in Noida, a suburb of New Delhi. While Knight Frank reckons India's housing market has been Asia's top performer over five years, prices have been mostly stagnant following demonetisation.

Mumbai

INDIA'S property sector was already battling a slowdown last year, when Prime Minister Narendra Modi's crackdown on cash quashed any hope of an imminent revival.

Removing 86 per cent of cash, at the time a key part of many real estate transactions, dented sales and new

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