Black money vs real estate in India

[krishnaaa]

1 hour ago, 420 said:

US to India my friend in India, transferred to parents and they gave it to him 

I meant...how did you officially transfer in US? Would there be tax implications?

[JambaKrantu]

 Black money usage is slowly coming down. Big builders like Aparna, My Home and DLF are mostly taking in white only

[JambaKrantu]

Only loop hole right now is land market rate to registration value is 90% different. Once that is fixed black money usage will become less than 10% of what it is right now. Most of the black money is parked in land right now..

[420]

39 minutes ago, krishnaaa said:

I meant...how did you officially transfer in US? Would there be tax implications?

No to family 

[veerigadu]

5 minutes ago, JambaKrantu said:

Only loop hole right now is land market rate to registration value is 90% different. Once that is fixed black money usage will become less than 10% of what it is right now. Most of the black money is parked in land right now..

They should bring more transparency into registration process as well. It will improve revenue for govt by manifold. 

[420]

1 hour ago, ABpropertyconsultenc said:

Anta amount endyku transfer chesaru ante em cheptadu Mee frnd..

We bought property on my name baa 

[Pavanonline]

9 minutes ago, JambaKrantu said:

Only loop hole right now is land market rate to registration value is 90% different. Once that is fixed black money usage will become less than 10% of what it is right now. Most of the black money is parked in land right now..

that problem is always there and reason why simple transactions are forced into black by govt. Don't think that will get fixed anytime soon.