can we put a cap on one family/ one individual of the same family should not own more than two residential properties? In Mumbai particular, individuals with black money can own more than two residential flats and do black marketing of residential flats.This will stop speculation in real estates, which is fuelling the prices. In Navi Mumbai, though the flats are sold out, anyone can see more than 50% flats are unoccupied and more than 10% occupied are on rent. Real estate developers, except Navi Mumbai, take 30-50% of the sale amount in black and the rest they shown on paper .i.e. white. This is huge money considering the no. of transactions and high cost in metros. This money goes to underworld and organised criminal syndicate.It not only escalates the real estates price and adds to infaltion. Is there no solution to this menace?
