Full cheque: every rupee through the bank
The whole price is paid by bank, and the deed shows the whole price. That is how we work, on every deal.
Two ways to pay for the same home
Full cheque: the deed shows what was really paid. Part cheque: it shows less, and the rest is on no paper.
Why it matters to you
Bought for 15 crore either way. Sold later for 20 crore.
Where we stand
“We are specialists in banking channel transactions. Our clients prefer transactions through banking channels specifically. If you are looking to transact through banking channels, you have arrived at exactly the right advisory.”
The market is moving this way
Full-cheque homes draw better buyers and close faster.
Full cheque and part cheque, in full
What "full cheque" means
The full cheque or part cheque question is central to most South Delhi property deals. Understanding it clearly protects both buyers and sellers.
In South Delhi property deals, "full cheque" means the entire sale price is paid through banking channels: cheque, NEFT, RTGS or demand draft. The sale deed shows the full price, and stamp duty is paid on the full amount.
"Part cheque" (also called "part cash") means part of the price is paid in cash, undeclared, and not shown in the sale deed. The registered value is lower than the price actually paid.
Why it matters
The registered value becomes the buyer's cost for the tax on a future sale. If you buy at ₹15 crore but register at ₹11 crore (with ₹4 crore in cash), your future capital gains will be counted from ₹11 crore, so you pay more tax when you sell.
For sellers, the cash part creates its own problems: it has to be accounted for, and the income tax consequences are serious.
For sellers living abroad, part cheque is especially risky. Tax is held back on the registered value, and the Income Tax Department can look closely at deals where the registered value seems below the market.
Where Grey Beard stands
We are specialists in banking channel transactions. Our clients prefer transactions through banking channels specifically. This protects buyers, sellers and every deal we are part of. It also means every client who works with Grey Beard knows what they are getting: a clean deal, fully documented, with no doubt about where the money went.
The market is moving to full cheque
South Delhi has been moving towards full-cheque deals for a decade, driven by demonetisation (2016), closer income tax checks, and a new generation of buyers. Younger buyers, especially those who have lived or worked abroad, strongly prefer full cheque. Today, full-cheque deals draw better buyers and close faster.
The market cuts both ways. Selling full cheque, you may sometimes need to accept a slightly lower price, because not every buyer works on the same terms. A buyer willing to pay partly in cash may offer a higher headline number. Do not be tempted by it. The short-term difference is rarely worth the long-term risk: the income tax exposure, the title problems later, and the kind of buyer you end up dealing with.
When buying from a builder, it shifts slightly. A builder will often ask for more on a full-cheque sale. That is a negotiation, not a given. A builder who runs a clean business will not penalise you for insisting on full cheque.
A question about your own deal?
Ashutosh will give you a direct answer.