When a retired Mass officer appeared to close an agreement on 14 pounds of agricultural countries, only some of the money moved through the official channels. The rest – an incredible £ 10.5 – their hands were changed, counting for hours in a bank with quiet accomplice. This was not an isolated case. Despite years of punishment, the real estate sector in India – especially land transactions – remains a refuge for black money. From Benami’s ownership to insufficiently reported sales values, the holes in the system continue to provide mass -based mass deals protected by tax test.
Post Reddit has recently re -examined the Black Money Conversation in Indian Real Estate, especially in transactions with arable land. “The amount of black money in agricultural deals is astonishing,” one user wrote, sharing a first -hand account that quickly became viral.
“So, I recently participated in a land contract … The other party was a retired Mas officer, who was published as a collector of our area. The deal was tied to £ 14, but only £ 3.5 were transferred through bank accounts. The remaining crowns of £ 10.5 were paid in cash – numbering for more than five hours in a private bank using three money counting machines, while the bank’s manager talked to minor talks.
“Since I was aspiring to the UPSC CSE before, I was very scared of the way these people handled cash,” the user added. “They left I think a few crowns in the bank and carried the rest in their car. My father called them” ghettos “to count every nausea … I was shocked when I knew there was almost 75-80% black money in landscapes.”
The post attracted hundreds of reactions, many echoed similar experiences across India.
“What else did you expect?” Answer one user. “In real estate and especially the land, the unwritten rule almost anywhere in India is: You pay a circle of white circles, rest in cash/black … IAS or Non-IS, the situation is the same.”
Another shared, “in cities Level 2 … In agricultural land, it (white component) could be as much as 5%. I have seen land deals over 14 pounds, in which the amount of check is 7-7.5%, the vacation in cash”.
Third added: “There are some countries around HID where the relationship is 97: 3 … The 1 -pound country can have a book worth only 3 pounds.”
And the fourth summed up the feeling: “This is why black money will never disappear from India. Never … it’s a victory situation for both sides.”
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