BAREILLY: Manish Gupta, 33, a software developer based out of Lucknow, has been pestered by calls from real estate+ agents. On the offer was a chance to invest black money in the business. “The offer was 60:40 on the deal. I then learnt that one lakh rupees, comprising Rs 1,000 and Rs 500 notes, will be equivalent to Rs 60,000 in the deal,” said Gupta.
Customers are getting similar deals in other cities of the state including Allahabad, Lucknow, Ghaziabad and Noida in varying degrees of commissions ranging from 30% to 50%. A developer on condition of anonymity claimed that customers are also approaching them with offers to invest their black money.This is ironic, compared to the initial lull in the real estate market+ in the aftermath of demonetisation. Developers, who were initially troubled by the announcement of scrapping of currency notes which account for nearly 86% of cash in circulation, have discovered loopholes sooner than expected.