Need advice: Seller agreed at ?1.65 cr for a 2BHK in Ghatkopar West but asking for ?25L cash component. Walk away or negotiate? Looking at a resale 2BHK in Ghatkopar West. Deal value discussed is ?1.65 crore. Seller says ?1.40 cr white + ?25L cash ?for tax reasons?. Flat is decent, building is around 18 years old, close to station. I can technically arrange the cash, but not comfortable. Is this normal in Mumbai resale or should I drop the deal?
Cash components are still common in older resale buildings, but that doesn?t make them safe. From a legal standpoint, you expose yourself to risk with zero enforceability if anything goes wrong.
Normal hai. Smart hai? Nahi. Tumhara comfort matters more than market practice.
I agreed to a similar cash deal in 2018. Seller backed out last minute. Lost token money, no proof, nothing. Learnt the hard way. Also consider this: your stamp duty and registration will be calculated on the white amount. That can create issues during future resale or scrutiny.
18-year-old building + cash demand = red flag for me. Usually happens when seller bought cheap long ago and wants to minimize capital gains.
If tomorrow problem comes, cash ka proof kya? Only headache for buyer.
Broker POV: yes, many sellers demand this. Buyer POV: negotiate it down or insist on full cheque deal. Plenty of sellers agree when they see buyer is serious.
Bhai Mumbai hai, not village registry office. If you?re paying 1.65 cr, don?t act scared to walk away. Power is with buyer at this ticket size.
Ask yourself one thing: Will you sleep peacefully after giving ?25L cash? If answer is no, decision already made.
Not defending cash, but if flat is genuinely undervalued and you?re okay with risk, some people do go ahead. Just don?t pretend it?s zero risk.
Let me break it down properly: 1. Cash saves seller tax, not you 2. You carry all downside risk 3. Loan eligibility reduces 4. Future resale becomes complicated. Unless the price is at least 10?15% below market, cash makes no sense for the buyer.
Boss Ghatkopar mein options hai. Don?t emotionally lock on first decent flat you see. Second, third better deal milta hai.
I will not give cash. Too much tension later.
Ah yes, ?for tax reasons?. India?s most honest sentence.
If location was something rare (like direct station access), I?d think harder. Ghatkopar West is good, but not irreplaceable.
When a deal starts with discomfort, it usually ends with regret. Property is long-term. Mental peace has value too. If seller insists on cash ? walk. If seller negotiates ? proceed carefully.