True Mr. Johnson. I think the largest black money in India must be with diamond traders and then builders. I had a horrible experience in 2005 when I was searching a home. Since I had been paying rent the same amount as EMIs (due to low home loan rates then). So, I though of buying a home. Based on my salary and job profile, the banks didn't had problem in financing 85% of the home cost. Even the 15% of own contribution was not a problem for me. But the problem was what the builders were asking for grey money. Every builder I went to asked for atleast Rs.200 to Rs.300 in black. And even a 1BHK of 600 sq.ft. makes black money amount to Rs.150,000. This amount became the greatest hurdle for me and because of which I was not able to buy home and even till today we live in chawl on rent.
