true value of properties

Querist : Anonymous (Querist) 13 October 2010 This query is : Resolved
I have observed that Bangalore properties have 2 rates. One is for registration purpose and one is for actual exchange of cash. The market value is more than double of what is actually registered. Because of this, it is difficult to get bank loans for the actual amount. And the government is cheated of its tax during property deals. This is happening brazenly under the very noses of government, Incommetax officials, CVC, judiciary etc. All are publishing through their agents how much they want in order to sell property. This is how black money is generated. Why no one wants to correct these loopholes?

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adv. rajeev ( rajoo ) (Expert) 13 October 2010
Who bell the cats? Our system is like that.

aman kumar (Expert) 13 October 2010
its in not only in Bangalore its in all india

Manish Singh (Expert) 13 October 2010
its prevailing in whole of the India and in fact beneficial for the public since if you make agreements on the market rate, you shall be liable to stamp duty much much higher than the prevailing scenario.

Manish Singh (Expert) 13 October 2010
and concerning banks, they always take into account the market value of the property and not the circle rate.

s.subramanian (Expert) 13 October 2010
It is happening all over India without exception. It is happening in cinema field very much leading to generation of crores and crores of black money. it naturally goes on with the active support and connivance of the
people who are ruling the country.

pawan sharma (Expert) 14 October 2010
this position is in whole in india.

Raj Kumar Makkad (Expert) 14 October 2010
You lead resistance on behalf of rest of Nation and create awareness among general public.

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