Modi’s ‘Black Money’ Crusade Looms Over Property Bubble
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Siddharth Sharma, a salaried aviation consultant, was looking to buy an apartment near New Delhi. Of the eight projects he viewed, developers of three expected part-payment in cash, an illegal but common demand in India.
“With my salary, I don’t generate much cash,” said Sharma, 43. “For me, to cough up so much was impossible. I had to cross those builders off my list.”