[kamaal]

>>Untaxed, illegal transactions for large sums are a big problem in India (especially in Real Estate/property markets)

PAN cards are mandatory for registrations in Karnataka State for more than 15 years now. And everything is already digitised. The government knows who is buying what.

Real estate gets a lot of bad rep for no reason. This was the biggest revelation in the immediate after math of demonetisation, people were expecting the real estate market to crash totally, it just didn't happen. The assumption was it was all done on black cash and demonetisation would bring down the whole pyramid. The market barely moved. People realised the hard way contrary to what they believed most transactions were genuine.

Recently due to the COVID remote work phenomenon the Real Estate market was expected to crash. That didn't happen either. People capable of buying properties never left Bangalore(Access to Schools, Career opportunities, hospitals etc reasons). The people who went back, are now returning.