Anuj Puri, Chairman – ANAROCK Property Consultants
From official acceptance to investment safety, crypto-currencies are nowhere near becoming viable tender to buy real estate in India.
Bitcoin and other cryptocurrencies have been in the news a lot in recent times, often for the wrong reasons, but also because of the massive appreciation Bitcoin has been clocking up.
To top it off, real estate has now been dragged into the Bitcoin controversy, with a handful of projects in some parts of the US and Dubai actually inviting investments via the Bitcoin route.
With the ongoing slump in sales, is it possible that developers in India will offer such an option to prospective buyers as well? Let us take a closer look at this.
We should begin by understanding that the viability of any currency as a means with which to transact in real estate in India obviously depends on whether or not the RBI and Government recognize that currency as valid tender in the country.
So far, that is not the case with Bitcoin.