Taxes start from land(regn, stamp duty), approval fees, cess on extraction of sand and aggregates, excise on cement, steel, tiles, paints, petrol, diesel, VAT on these items, fees to be paid on completion for approvals etc, taxes on power used and numerous other local duties and taxes. Not included are moneys paid to local goons and so called politicians. Only finished product should be taxed ie the flat and not the individual components. If a single point tax is imposed at the time of handing over of flats things will be more transparent. Prices will also come down.
housing scenario in India today is prime example of never ending greediness of our politicians and real estate who have come together in an unholy nexus to fleece the public by raising price of flats beyond 600% of their cost value.
under such circumstances it is better not to boy a single flat for the next 10 years at least to teach these vermin a lesson. be united and avoid this corrupt sector and teach them a lesson of their lives
Sad Mr. Rajan. Its better to do your own job and control the banks who are into rampant corruption with high NPAs. No point commenting on real estate when you have failed to do your own job.
Re: Sad Mr. Rajan
by Sundara Raman on Aug 22, 2015 10:57 PM
real estate in India is the most corrupt and in fact mostly controlled by hooligans and absolutely corrupt
Re: Sad Mr. Rajan
by dinesh kapur on Aug 23, 2015 09:41 PM
It is because of RBI governors that our economy is good and is showing signs of growth. otherwise it could have collapsed under pressure from populist measures of the successive governments. What he has said about real estate is also very true for its growth. For your information, I am a successful real estate down to earth professional having grassroot knowledge.
In Navi Mumbai CIDCO is the majour culprit or contributor for increasing housing prices. This orgnisation was formed to creat houses for masses, it is now selling the land to Builders for Rs.1.5 lacks to 2 lacks per square meter or more. How do you expect affordable housing for working class ? Thee is no control by Government of Maharashtra on the affairs of CIDCO who has become profit making organisaiton.
realty is all abt routing black money .ppl here r generally struggling in jobs with less pay.upon that they spend everything on raising family. how many have crs to invest in realty.seems these builders live in fools paradise on the top floor of their bldings. their inventories shall remain unsold forever only then the builders will come out of silly dreams and the great divide they want to create in society
