BENAMI PROPERTIES IN KARNATAKA


It is interesting to note that few BENAMIS under various names, styles, titles, and documents are trying to SELL/ALIENATE, market their illegal or benami properties acquired with GENERAL POWER OF ATTORNEY or SALE AGREEMENT or ASSIGNMENT AGREEMENT and the developers/marketing agencies/agents/builders/frauds are finding gullible and innocent victims/buyers and DUMP or SELL their illegal or BENAMI Properties.

Most of these properties have GOOD TITLE and banks have approved home loans!!!!

Few such properties are sold as FARM HOUSES and few sellers are creating FAKE agriculturist certificates in neighbouring states.  Beware.

They have good contacts with the banks for home loan and it is being offered at an attractive price.  The agents/marketing agents also get a HANDSOME commission.

Few developers and many more who have BENAMI PROPERTIES are being investigated by the SERIOUS FRAUD INVESTIGATION OFFICE, ENFORCEMENT DIRECTORATE-FOR MONEY LAUNDERING-INCOME TAX DEPARTMENT AND FEW MORE GOVERNMENT INVESTIGATING BODIES MAY ALSO JOIN THEM.

As of now, the real estate market is abuzz with three or four such developers and builders.

Some of the sellers are NRI`S.   Check the income tax requirments of these NRIS with the Income-tax Department.  

Some of these properties are sold in the Middle East countries, Even in Singapore, where Home Mela`s are conducted and free lunch and dinners are offered.