Surat, Jan 30 (PTI) Prime Minister Narendra Modi on Wednesday credited his government's demonetisation decision for bringing down prices of houses and making them affordable for the aspiring youth

He also said that if the previous governments had to do the work that he has done so far, they would have needed "25 more years" for it

The prime minister was addressing a gathering after laying the foundation stone for extension of the new terminal at Surat airport in Gujarat

“I was asked what has been the benefit of note ban decision. You should ask it to the youth, who could buy residential homes at affordable rates after the decision. Black money used to be parked in real estate sector, but with decisions like note ban and RERA, we put a check to it," Modi said

He lauded the Civil Aviation Ministry's 'Udaan' (Ude Desh Ka Aam Nagrik) scheme - a regional connectivity scheme that makes flying affordable for masses, saying it will boost development of the country's aviation sector

The prime minister also said that during the last four years of NDA rule, his government constructed 1.30 crore houses while during the previous UPA rule, 25 lakh houses were built

He also stated that for the last 30 years, the country had a “hung Parliament” due to which progress was affected. "But four years ago, people voted to give full majority after which the country is progressing rapidly," he said.

Demonetisation and RERA credited with improving housing affordability and curbing black money in real estate after reforms The statement attributes demonetisation and RERA as regulatory measures that curtailed parking of unaccounted cash in real estate, asserting these measures reduced housing prices and improved affordability for youth; it additionally notes deployment of the Udaan regional connectivity scheme and increased government housing construction as concurrent development measures.