Are property purchases still being paid for in cash?
The market value of the property had appreciated but not the government value.
Hyderabad: Rs 15 lakh in black and Rs 35 lakh in white. That is what a builder at Saket near ECIL wants for a Rs 50-lakh two-bedroom house.
How does a salaried person, with no scope for illegal earnings, get this kind of black money? One suggestion is to take the help of businessmen; they could help convert money.
The builder said he would want nearly two-thirds of the money in black, even if the buyer went for a home loan. Try borrowing the money from family and friends, he suggested.
( Source : Deccan Chronicle. )
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