"The opposition parties are pointing fingers at the land deals by the Bharatiya Janata Party (BJP), but these deals were authorised in January 2015 only," Shah said at the 'Agenda Aaj Tak' event here.
"In January 2015, we had announced to have party offices in all the districts of the country, and these land deals are in pursuance of that," said Shah
The party purchased land across the country at 170 locations between January 2015 and November 2016, he added.
Opposition parties have alleged the BJP had prior information about demonetisation and the land deals were done to turn black money into white.
West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee on Monday demanded a judicial probe into the BJP's land deals.
Earlier, the CPI-M in Parliament raised the issue, pointing to deposit of "huge amounts of money in banks" on the morning of November 8, when Prime Minister Narendra Modi in the evening announced the decision to spike Rs 500 and Rs 1,000 currency notes.
Shah asserted that the allegations of the opposition were baseless.
"The deposit of money in the bank accounts is a mere coincidence. Moreover, the opposition should try to think logically. Why we would deposit money on November 8 and raise suspicion? This is nothing but a mere coincidence," said Shah.
"Earlier, the opposition used to ask Modi what have you done to bring back black money. And now post-demonetisation, the opposition is crying why you did this, Modi?" said Shah, ridiculing the opposition.
Talking about demonetisation, Shah said it is a historic, and asserted that the economy will get rid of black money.
"By December 30, the country will get rid of entire black money. The black money will either come back to the system through deposits in the banks, or if people fearing penalty don't deposit, then in that case the money with them will be useless after December 31. So both ways, the black money will be eliminated from the system," added Shah.