Indian real estate is a mess..Where are we heading to?

[kumar4world]

Naku oka doubt. Manam intha kastapadi, money save chesi, indian real estate lo invest chestham...plots/agricultural land/apartment/individual house. Ivanni 90% black lo ne kontam, migita 10% maatrame white money istham. Ante 1 crore property - sale deed lo maatram 10 lakhs ki konnatu raastharu, migitha 90 lakhs black lo ivvamantaaru. 

No one agrees to put full amount on the sale deed even if we wish to do so, this is to skip taxes for both parties.  Manam, malli ammali ante black money tho ne deal cheyyali, otherwise buying party won't agree as they has to pay taxes if full value is shown in sale deed.

Entha varaku idhi correct? We are pushing our economy backwards as long as this process continues!

Where is the fault?

1) governments should raise the land value to match private value, As per government valuation, these lands/plots are valued way less than private value at the ratio of 1:9 (govt vs private value)

2) How can a change come from the public?  Even if you are interested in paying full taxes on total amount on the land you are buying, selling party will not be kool with it as they has to pay income tax.

Where are we heading? Why can't our real estate be like developed nations? why we always want to skip the taxes? a function hall owner wants ti skip taxes, A small scale hotel owner wants to skip the taxes (how many such hotel employees are actually on payroll)? A Hospital owner wants to skip taxes, A Home owner also wants to skip the taxes!

So current citizens has to teach these ugly real-estate laws to their future generations if they want to sell/buy land? Any thoughts?

 

 

[Spartan]

  first time illu kontunnav aindia lo

[tom bhayya]

1 cr property 10 lakhs kontunna antey registrar and govt pichollu anukuntunnava register cheyadaaniki?  

[kumar4world]

Just now, tom bhayya said:

1 cr property 10 lakhs kontunna antey registrar and govt pichollu anukuntunnava register cheyadaaniki?  

Do you know that if you want to buy a 1 acre land in Hyderabad outskirts, its easily more than 1 crore?  Have you ever seen the sale deed after they purchase that one crore land? I challenge you, you will see only 10 lakhs or even less.  Everyone, registrar, buying/selling parties know about this process.

[kumar4world]

5 minutes ago, Spartan said:

  first time illu kontunnav aindia lo

haha....ledhu bro, Thank god, illu undhi already...But ila ne jaruguthundhi kadha akkada process. 

[tom bhayya]

5 minutes ago, kumar4world said:

Do you know that if you want to buy a 1 acre land in Hyderabad outskirts, its easily more than 1 crore?  Have you ever seen the sale deed after they purchase that one crore land? I challenge you, you will see only 10 lakhs or even less.  Everyone, registrar, buying/selling parties know about this process.

post proofs 

[Simple123]

2 minutes ago, tom bhayya said:

post proofs 

bro maa village side 25L an acre goes for sale ,  govt records 2L .. it is quite common .. Reason to avoid registration money.  govt charges 8% .

[kumar4world]

Just now, tom bhayya said:

post proofs 

lol... Its a open secret bhayya...ok do this, call a real estate agent in Hyderabad and ask whats the price of the land and then ask whats the registration value, I am sure then your opinion will be changed.

[Manikyam]

8 minutes ago, kumar4world said:

Do you know that if you want to buy a 1 acre land in Hyderabad outskirts, its easily more than 1 crore?  Have you ever seen the sale deed after they purchase that one crore land? I challenge you, you will see only 10 lakhs or even less.  Everyone, registrar, buying/selling parties know about this process.

govt dani 1 cr cheste private rat 10 cr avtundi mari 

ala okay na

[Manikyam]

Just now, Simple123 said:

bro maa village side 25L an acre goes for sale ,  govt records 2L .. it is quite common .. Reason to avoid registration money.  govt charges 8% .

bro ekada idi 25 L ki acre aa

[snoww]

11 minutes ago, tom bhayya said:

1 cr property 10 lakhs kontunna antey registrar and govt pichollu anukuntunnava register cheyadaaniki?  

10% emo kaani, 30% value tho registration vinna.

And he has a valid point. Malli amme appudu black party kosame vethakali. Ammi bank lo esukolemu, karchu pettalemu. Malli inko property konali.

[kumar4world]

Just now, Manikyam said:

govt dani 1 cr cheste private rat 10 cr avtundi mari 

ala okay na

1 acre 10 cr range lo kone valla sankya thaguthundhi kadha...appudu real state vallaku business untundhi antava?

My main question is, does this has to be this way? Just doing a general debate, what do you think a best way to solve this black market think?

[VenkyBabu]

Simple rule ... if you are buying an apartment and you would like to take a loan . In that case people will show 70% of the value as registration value and pay extra taxes ... 

apartments registration value kuda antha thakkuva ledhu . Last year nenu chesa ... nenu mottham liquid cash istha ani cheppina kuda registration value half of the amount chupinchadu builder ... taxes ke 3L egirayi naku. 
Depends ... But 10% days gone... 15 years back urlo kuda antha thakkuva ledhu ... lands Ki kuda minimum 30% untadhi registration value .... 

[Manikyam]

10 minutes ago, kumar4world said:

1 acre 10 cr range lo kone valla sankya thaguthundhi kadha...appudu real state vallaku business untundhi antava?

My main question is, does this has to be this way? Just doing a general debate, what do you think a best way to solve this black market think?

10 cr may be exaggerating 

private market will always have higher value thand whatever the govt rate is

konevadu kontunadu man. infact india lo ne baga kontunaru NRIs kanna

[VenkyBabu]

18 minutes ago, snoww said:

10% emo kaani, 30% value tho registration vinna.

And he has a valid point. Malli amme appudu black party kosame vethakali. Ammi bank lo esukolemu, karchu pettalemu. Malli inko property konali.

Bank lo endhuku veskolem ?

multiple people paina fds veyyochu ... mother , father , relation bagunte siblings kuda. More than 15L entho unte taxes kattali ankunta (idk)