PROPERTY REGISTRATION EXPENSES SHOOTS UP BY 1% TO 15%


DUE TO THE REVISION OF GUIDANCE VALUE, THE STAMP DUTY AND THE REGISTRATION FEE( CHARGES) PAYABLE BY THE BUYER HAS GONE UP BY 1% TO 15% DEPENDING UPON THE QUANTUM OF REVISION. 

GENERALLY, 90% OF THE PROPERTIES REGISTERED ARE ALWAYS UNDERVALUED. 

ONLY THOSE SEEKING LOANS FOR THE PURCHASE WERE REGISTERING IT AT THE MARKET VALUE SO AS TO GET THE MAXIMUM LOAN, THUS WERE THE ONLY BUYERS WHO WERE HONEST(DUE TO COMPULSION TO AVAIL THE LOAN) DID NOT EVADE THE TAXES.

THE INCOME TAX DEPARTMENT IS CONDUCTING AN ENQUIRY INTO THE HIGH VALUE PROPERTIES AND TRANSACTIONS.