Real estate research firm Liases Foras estimates that 30-40 per cent of real estate transactions involve black money. “Though exact data is not available, various studies done in the past suggest that 25-35 per cent of the transactions are done through cash. In tier-2/3 cities, the cash component accounts for over 50 per cent,” says Hitesh Singla, Principal Partner, Square Yards, a real estate advisory firm.
http://www.thehindubusinessline.com/news/real-estate/demonetisation-will-take-a-toll-on-cash-deals-in-realty-sector/article9422533.ece
