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For a new house, up to 20 per cent black is okay

The agent did not directly speak about black money but dropped sufficient hints.

Hyderabad: At Bahadurpally near Tech Mahindra, an agent is willing to take up to 20 per cent of the cost of a duplex house as downpayment, and the rest in the form of a housing loan. The agent did not directly speak about black money but dropped sufficient hints.

An agent for a gated community in Nizampet wanted 80 per cent of the money paid through legal channels.

He was okay with Rs 2 lakh in cash after which the registration papers would be processed, and 20 per cent as down payment either through cheque or cash.

( Source : Deccan Chronicle. )
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