[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Hyaemin Park staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.
Indians’ love affair with cash purchases shows little signs of abating. Especially when it comes to buying real estate. The incidence of high cash component in property sales in metros has come down sharply since 2016, but it continues to be rampant in smaller and even some bigger cities like Ahmedabad and Indore.
Builders continue to ask for a hefty cash pay-out in property and land purchases forcing customers to either drop plans or raise cash from other sources. And all this is happening when large property markets with established realty developers are moving towards cheque payment in a big way. Smaller cities like Ahmedabad, Chandigarh, Jaipur, Noida, Aurangabad, Kochi and Indore are still witnessing large-scale usage of cash in property sales.
“Large property markets, being under the direct glare of authorities, have seen the proportion of cash and instances of deals involving cash going down. However, relatively smaller markets have not seen a decline like this as yet,” said property broker operating in Jaipur.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/despite-demon-and-rera-builders-still-asking-for-cash/articleshow/72222551.cms
Have a nice day.