Real Estate Corruption
In the cities like Mumbai rates are always talked in two terms 1) white Money 2) On money. Normally the ratio is 60-40 or 70-30. People have lot of black money , unaccounted money.
A group called investor gives money in cash as investment and reserves the flats.
Developers/Builders taking cash money spends all cash money for buying building materials and govet loses all the taxes and unaccounted money is created.
Can govet arrest this activity? Why not take all the flats in govet custody if registration value is less than market rate? Govt. and Registration office know this. Due to this black money is increasing and rates are also increasing. Thus black money is multiplying. more
A group called investor gives money in cash as investment and reserves the flats.
Developers/Builders taking cash money spends all cash money for buying building materials and govet loses all the taxes and unaccounted money is created.
Can govet arrest this activity? Why not take all the flats in govet custody if registration value is less than market rate? Govt. and Registration office know this. Due to this black money is increasing and rates are also increasing. Thus black money is multiplying. more
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