Bring down black money in Real estate transactions.
Real estate is the fountain head of black money.
1,Under valuation and payment in cash is very common in real estate transactions. Limiting Capital gains and Registration charges to Government Value, even when the transaction value mentioned in the document will be a big incentive to both seller and buyer to mention the actual transaction value in the sale deed rather than Government value and bring down black money.
2. Another method is to double the Government value and halve rates of Capital gains tax and Registration charges
2. This will have a cascading effect on mentioning higher transaction values and bring out actual prevailing rates of properties in any locality. more
1,Under valuation and payment in cash is very common in real estate transactions. Limiting Capital gains and Registration charges to Government Value, even when the transaction value mentioned in the document will be a big incentive to both seller and buyer to mention the actual transaction value in the sale deed rather than Government value and bring down black money.
2. Another method is to double the Government value and halve rates of Capital gains tax and Registration charges
2. This will have a cascading effect on mentioning higher transaction values and bring out actual prevailing rates of properties in any locality. more
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In Hyderabad today’s TOI news-only 27 builders have registered with RERA out of nearly 5000 projects have been approved by GHMC,HMDA,Director of Town planningand country planning by Jan 2018. Do you expect that black money will disappear? more
Oct 10
This is the practice in many States since Businessmen are backbones of Political Parties whom they cannot command more
Oct 10
One suggestion is to force builders to declare the properties for sale with value and the government agency can in turn sell it to the consumer .All will be taxable.Before that the property should be inspected ,evaluated for quality and then accepted to be delivered. In no way the builder will be involved in transfer of property but flaws in the construction must be his responsibility to be rectified or paid by him if found defective. Mortagage coma is ir banks can deal directly with govt agency selling it .Government agency can charge for the services rendered. No cheating in documentation ,registration and ownership will arise .No court cases. No black money to be paid more
Oct 09
Essentially needed policy. Land and Housing are fundamental necessities of all people and shall be controlled banning multiple holdings in Land and Houses.
It is highly and exorbitantly delayed by Governments to mandate this . They took over public properties at dead cheap prices BUT GROSSLY NEGLECTED TO CATER Housing and Agricultural Lands to general Public decades together and need to be curbed please. more
It is highly and exorbitantly delayed by Governments to mandate this . They took over public properties at dead cheap prices BUT GROSSLY NEGLECTED TO CATER Housing and Agricultural Lands to general Public decades together and need to be curbed please. more
Oct 10
Multiple value difference between open market rate and govt. market rate ; undervaluation of property ; carrying 40% Cash need to be curbed more
Oct 09
