“10.5 Crores Cash …”: The publication was shed on 75-80 % of agricultural land deals that are operated on black funds in India

When a retired IAS officer appeared to close an agricultural deal worth 14 rupees, a small portion of the money was transferred through official channels. The rest – which is 10.5 amazing rupees – changed cash, and was calculated for hours inside the bank with calm complicity. This was not an isolated case. Despite the years of the campaign, the real estate sector in India – especially wild transactions – remains a haven for black funds. From the ownership of Benami to the values ​​of unpaid sale, the gaps in the system continue to enable huge cash deals protected from tax audit.

Reddit Post recently sparked the conversation about black money in Indian real estate, especially in agricultural land transactions. One of the users wrote, “The amount of black money in agricultural land deals is amazing,” and he shares a direct account that soon became viral.

“I recently participated in a land deal … The other party was a retired IAS officer who was published as a gym in our region. (The land was bought two decades ago during his service). This land was of course written by Benami’s name for some of his uncle.” The deal was linked to 14 rupees, but only 3.5 rupees were transferred through bank accounts. The remaining 10.5 rupees were paid cash – calculated for five hours in a private bank using three cash account machines, while the bank manager has recently performed a small.

The user added: “Since I was ambitious in UPSC Cse before, I was very afraid of the way these people deal with,” the user added. “They left and I think a few crores are in the bank and carried the rest in their car. My father described them as” Cheatha “for every serious … I was shocked to know that there are approximately 75-80 % of black money in land deals.”

The post attracted hundreds of reactions, and many similar experiences are frequent across India.

“What did you expect?” One user answered. “In real estate, especially lands, the unwritten rule is almost anywhere in India: you pay the circuit rate in white, comfort in cash/black … IAS or other AIS, the situation is the same.”

Another subscriber, “in level cities 2 … in agricultural lands, it can reach (white component) to 5 %. I saw land deals more than $ 14 where the check amount was 7-7.5 %, and comfort in cash.”

A third added, “About HYD there are some lands where the ratio is 97: 3 … The land may have 1 balls worth 3 dollars, the book value is only 3 dollars.”

The fourth summarizes the feelings: “This is the reason that black money will never disappear from India. It is never a profitable situation for both sides.”