In Major metros, a huge number of properties, like sites, plots, apartments, coffee and tea estate, resorts, large commercial buildings, houses, agricultural land and industrial land are PUT FOR SALE ON VARIOUS Websites, through brokers and builders, which are supposed to be or benami properties.
The sellers or developers or agents or the owners may project it as a very safe and good titled property, but, over 350 properties attached under Benami Transaction Act and multifold properties in major metros are under scrutiny.
The buyers/investors are ADVISED TO be VERY CAREFUL before transacting in such properties.
Some properties are in the name of individuals, corporates, builders, agents, relatives and have various backgrounds and it is difficult to find out the nature of the properties.
HENCE, THE BUYERS ARE STRONGLY ADVISED TO THOROUGHLY EXAMINE AND SCRUTINISE THE TITLE AND THE BACKGROUND OF THE PROPERTY AS WELL AS THE SELLER – BEFORE INITIATING ANY TRANSACTION.
The Prime Minister has hinted that there is a strong action initiated soon against such Benami properties. There is an unconfirmed news in the market that BENAMIS are trying to borrow money or trying to shift their liabilities on others-fearing criminal action/proceedings against them by the State.