I have noticed this growing trend in the current real estate market of builders charging Black component (sometimes it is ridiculously 50:50) thereby quoting a lesser value on the legal agreement (eg. if the seller quotes Rs 5000 as the per Sq. Ft. rate and charges 50% in black - the buyer signs an agreement that says the flat was allocated for Rs 2500 )
It is unfair for the 9 - 5 job walla's who basically pay tax at source and end up buying property at higher prices. The black marketeers get away with making a good moolah and also make their black money white in the process.
So this is how the system works:
1) Black money investors purchase flats at lower prices by putting tax evaded black money in the deal.
2) Builders announce sold-out projects
and the tax payers panic that there would be no more supply of homes in the market and flock to purchase 'Investors' flat at premium rates.
3) Rich (tax evaders) end up making more and more money
and the majority category of "Tax Deducted at Source" janta once again falls prey to the bubble burst and keeps working hard to make up for their increasing cost of living.
The current real estate prices are at par with international real estate prices in the Developed countries where one gets 24/7/365 basic amenities such as water, electricity, security ... for the money paid ...
Sigh! Sad but true!