CORRUPTION IN PROPERTY TRANSFERS IN INDIA
Basis of corruption in property transfer lies in the common man's mind and the officials involve in the registration process
1, Most of the people dont like to register the property at the purchase cost .This is due to various reasons some people dont want to pay high stamp duty while registering at the cost price. unable to provide source of money etc.
2 Many people whom we think dont have income surprisingly have bigger income the news a beggar in mumbai have
2 apartments flashed in daily news paper is an example .
such people voluntarily bribe the registering authorities to register the property at the under valued price.
3 People registering property happily bribe the registering authorities and account it expenses towards brokerage etc
4,Most people pay bribe and make the officials to do their duty after getting bribe only this affects the genuine buyer who actually wants buy the property at the actual cost price
Last but not the least is the nexus between the document writers and registering authorities which is the sole cause for prevailing in the REGISTRATION OFFICES IN INDIA more
1, Most of the people dont like to register the property at the purchase cost .This is due to various reasons some people dont want to pay high stamp duty while registering at the cost price. unable to provide source of money etc.
2 Many people whom we think dont have income surprisingly have bigger income the news a beggar in mumbai have
2 apartments flashed in daily news paper is an example .
such people voluntarily bribe the registering authorities to register the property at the under valued price.
3 People registering property happily bribe the registering authorities and account it expenses towards brokerage etc
4,Most people pay bribe and make the officials to do their duty after getting bribe only this affects the genuine buyer who actually wants buy the property at the actual cost price
Last but not the least is the nexus between the document writers and registering authorities which is the sole cause for prevailing in the REGISTRATION OFFICES IN INDIA more
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Indian property transaction and registration laws were originally framed by the British time central baboose who never desired welfare of Indian people but promoted corruption. Now it is highly desirable to revamp all rules, administrative setup and governing regulations to eliminate inbuilt corrupt practices in property transaction and leasing. more
Jan 22
The main culprit is high registration charges in registration department and long term capital gains tax on sale proceeds imposed by central government. In fact market prices in registration department chart in Telangana were not changed intentionally after 1-4-2013 by government as they fear of incurring higher compensation amount for fresh land acquisitions in this state. more
Jan 15
Surprisingly , even Property Gift from a child to their parents needs is to be RE-REGISTERED by paying registration Fees etc.... beyond imagination.... more
Jan 08
Why there should so high cost in stamp duty and what the government is doing for the seller and purchaser ?????????? more
Jan 08
