[INDIA REAL ESTATE NEWS] Good morning, everyone.|
I’m Shashi kant shukla staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.
MUMBAI: Three years after Narendra Modi in an address to the nation banned Rs 500 and Rs 1,000 currency notes digital transactions are increasing year
over year but large number of people still prefer cash transactions over digital transactions as per a survey.
The survey also pointed out that black money continues to dominate the real estate market despite the demonetisation of currency notes.
When asked how much cash did they pay while buying a property only 33% of the respondents said that they did not make any cash payment and paid the full
amount by cheque or e-payment. All the remaining 66% of the respondents said that they used some amount of cash while buying a property in last one year.
Two third of the real estate transactions saw a cash component of anywhere between 10% to 50%,
as per a survey by LocalCircles, a community platform.
A majority of Indians continue to make a substantial percentage of their total annual purchases in cash, the survey said. About 40% people said anywhere between 5%
to 25% of their total purchases were in cash, 29% said anywhere between 25% to 50% of their purchases were in cash and 27% said at they paid cash while
purchasing almost every item in last year. This however is still an improvement over last one year,
the survey said as more people did larger number of purchases in cash.
Read more at : https://economictimes.indiatimes.com/wealth/real-estate/three-years-of-demonetisation-cash-is-king-in-66-of-real-estate-transactions/articleshow/71966721.cms
Have a nice day.