By Accommodation Times News Services
Old time settlement are taking place. Hundies are been adjusted in old currency. People are paying through old currency for old debts. Builders are asking creditors and contractors to take old currency in order to pay them. People are happy that a debt which was pending for years are now been settled by builders.
Cash are accepted to book real estate, part payment and even parking funds till 31st March. People are lending interest free loans in cash till 31st March with old currency.
Cash for Real Estate is in offing. News coming in from round the country as to builders are accepting cash to book real estate. This booking is till Monday as heavy rush to deposit cash in banks is in offing. Purchasers are preferring to pay cash to book real estate. Discount in real estate is now converted into premium to adjust cash.
Panic cash investors are hunting for parking place. Cash are adjusted to different avenues. Balance payment of real estate transactions are done with old currency.
Citizens across the nation who have cash more than 10 Lakh are panic because no reason can be given for such accumulations. Companies have started huge cash into banks. FMCG companies are pouring cash in banks. This will be historic moment for banks to handle such quantum of cash.
Over night Cash counting machines have gone out of stock with vendors. Money exchange and vendors are busy in converting Indian Rupees in Dollars. US Dollar are selling in grey market for Rs92/-.
Real Estate is biggest gainer of Cash crunch. Overnight a very good sale have taken place, it will reflect in next few days as deeds will be registered.