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

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 launches of residential projects, which make up 80 per cent of the market.