Real Estate Corruption

Step 1) Ton of black money sent abroad through Hawala

Step 2) Money is deposited in a bank account where sources dont matter in shell companies. Becomes white

Step 3) Shell Companies invest more than the price of property in buying real estate. Apt value 3 crores, 6 crores deposited

Step 4) Builders get the needed liquidity to thrive or survive

Simple solution - investigate what was the price paid versus market rate for all property transactions done by builders. Lot of bureaucrats, politicians will get exposed. more  

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Real Estate Corruption
Step 1) Ton of black money sent abroad through Hawala
When big denomination notes of Rs.1000, 500 and 100 are banned permanently where will tons of black money come from?
Step 2) Money is deposited in a bank account where sources don't matter in shell companies. Becomes white.
Where will black money come from to deposit if all big denomination notes are withdrawn permanently from circulation? If deposited by cheque then no fear.
Step 3) Shell Companies invest more than the price of property in buying real estate. Apt value 3 crores, 6 crores deposited
So long as the deposited money is not in cash no problem. It will be white.
Step 4) Builders get the needed liquidity to thrive or survive.
So long as there are no big denomination notes they cannot thrive. If they thrive by cheques received let them thrive.
One and only solution demonetize by banning all big notes of Rs.1000, 500 and 100. All transactions above Rs.1000 through bank cheques, credit/debit cards and online transfers. more  
Black money is not only overseas but more generated in India as well. One can write volumes, what needs to be done, but rest assured nothing will be done. Indians do not have character, laws are topsy turvy, politicians and bureaucrats are most corrupt and have maximum black-money, judiciary is inefficient and corrupt as well. Only salaried people and professionals face the blunt. Let us still say, 'MERA BHARAT MAHAN'. more  
Does transparency plan to raise this to ED more  
FDI is another means of investment by our black marketeers. They send the money by HAWALA and then invest in India or Indian co. by different means. more  
An apex body exclusively for the real estate, (say, The Real Estate Regulatory Authority of India, RERAI) to lay down standards, regulate, monitor and control the industry can be thought of just as RBI controls the banks or SEBI controls the stock market. more  
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