The Delhi High Court, on October 11, 2017, asked the Income Tax (I-T) Department whether it intended to examine, under the new benami law, all accommodation entries made prior to 2016 when it came … READ FULL STORY
Did demonetisation erase black money in real estate? Just a couple of months ago, demonetisation appeared to have taken all the remaining steam out of our Indian real estate’s sails. Sales in the significantly … READ FULL STORY
The Income Tax (I-T) department, has warned that those who undertake Benami transactions would invite rigorous imprisonment (RI) of up to 7 years and such violators would also stand to be charged under the … READ FULL STORY
The Income Tax (I-T) department has issued 87 notices under section 24 of the Benami Property Transactions Act, 1988, (which pertains to notice and attachment of property involved in benami transaction). A total of … READ FULL STORY
Many within the Indian real estate fraternity, privately admit that the government’s demonetisation drive, has done more damage to the real estate business than even the Lehman Brothers crisis. “The sector has suffered badly, … READ FULL STORY
The central government has repeatedly stated its intent to deal with benami transactions. It is, hence, expected that several concrete steps and financial curbs on benami transactions may be announced in the Union Budget … READ FULL STORY
Genuine buyers in the residential real estate market, appear to be holding back their purchase plans, on hopes that the interest rates would fall further and the property prices would plunge, post demonetisation, which … READ FULL STORY
“Demonetisation has impacted the resale market, which is otherwise flush with transactions involving black money or unaccounted cash. Consequently, the number of transactions in the secondary market has come down,” explains Vijay Gupta, CMD, … READ FULL STORY
The Income Tax department, on December 26, 2016, said that it has detected undisclosed income amounting to Rs 169 crores, after it conducted searches on two groups of realty developers and mall owners in … READ FULL STORY
In 2016, the comprehensive Benami Transactions (Prohibition) Amendment Act was passed, with the intent of bringing unaccounted money into the system, as well as seizing benami property and prosecuting those indulging in such activities. … READ FULL STORY
When Housing News analysed the impact of demonetisation over the property prices, some of the critics disagreed and even took it as an endorsement of black money in real estate. Nevertheless, the theory that … READ FULL STORY
Sagar Mehendale, a salaried person, was looking to buy a resale flat for his second investment, so that he could let it out on rent. As he could only invest by taking a home … READ FULL STORY
Ever since the demonetisation of old currency was announced by the union government, the Indian real estate industry, has been trying to ascertain the cost-benefit analysis of its impact. Those who suggest that a … READ FULL STORY
