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Sagar Mehendale, a salaried person, was looking to buy a resale flat for his second investment, so that he could let it out on rent. As he could only invest by taking a home loan, he was unable to proceed in nine out of the 10 projects, owing to the presence of a substantial cash component in these deals. On the other hand, many people who have recently sold their properties and accepted partial payment in cash, have no option but to declare the amount and pay taxes on it. Demonetisation has resulted in a slowdown in sales, as buyers and sellers wait for cash availability to normalise.
Sagar Mehendale, a salaried person, was looking to buy a resale flat for his second investment, so that he could let it out on rent. As he could only invest by taking a home loan, he was unable to proceed in nine out of the 10 projects, owing to the presence of a substantial cash component in these deals. On the other hand, many people who have recently sold their properties and accepted partial payment in cash, have no option but to declare the amount and pay taxes on it. Demonetisation has resulted in a slowdown in sales, as buyers and sellers wait for cash availability to normalise.
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