A Reader`s View on the effects of Demonetisation on Real Estate Business


View of Mr.Suraj

Real estate business is logically the worst affected because this business was progressing fast only against highest use of black money, and have amassed huge unaccounted funds in bag fulls. There is a ray of hope that in a year or two this trade could revive at the fresh corrected market rates when even registration deed as also property taxes are eliminated all together, with the introduction of bank transactions tax. This could also see the removal of even income, sales, vat, excise, road and most of the taxes, the ultimate aim which Modi has embarked upon. The digitalisation of money transactions is one strong step in this direction. Huge unaccounted funds per rooms of bag fulls on 1,000 and 500 currency notes in party offices and leaders all around, having vanished and evaporated over night, the elections are going to be vastly cheaper giving rise to entry of honest citizens knowing there are going to be no wind falls, and country getting honest and rich dividends. Next possible step is to target properties purchased with high unaccounted funds as also benami properties, plots, kothis, & business partnerships, shares, mutual funds, diamonds, gold, jewelry by bureaucrats, Real Estate dealers, Chartered Accountants, and of course large bribe prone babus and officers in police, PH, PWD, Excise, Income Tax, Vat Taxations, Municipal Committees, Customs, RTI etc etc .This demonitisation is going to be wide scale manthan where most of the unaccounted funds players will feel the highest set back, many going to get free food and lodging in Jails all over India, so the restof the citizinery enjoy a stress free life..

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