Property Registry Charges Suggestion
After years of waiting finally, India has successfully established RERA (Real Estate Regulatory Authority) which was not only required but was a necessity to eliminate the frauds from the industry as well as to streamline the industry towards better growth possibilities. RERA is popularly believed as a weapon for the consumers against the Real Estate tycoons but it is not true, instead, RERA is equally helpful and beneficial to the builders and developers too as the accountability to pay the dues on time is also made mandatory.
The very reason for this article is to make a humble but most important suggestion which could revolutionise the industry, as well as help, eradicate the homeless citizens from the country once and all. Not only that it may indirectly help the countries revenue a leap jump ahead just as how GST in India has made an envious jump in the month of Jan 2019 by crossing one lakh collection in a single month.
The suggestion is to make Registry charges too Uniform throughout the country under the below formula.
The first step towards the same is charging only 4% Registry charges for any Indian citizen's first investment on home. That means any person who is buying his or her first home, or first plot, or first Flat has to pay only 4 % towards the value of the purchase. This will bring in a tendency to share the land investment among different sibling's names like the wife, mother, son, daughter though the same may take place with the intention to save Registration Charges substantially.
This step may further help to consolidate the family bond with more toleration tendency with each other on petty issues and better understanding due to the inevitable situation arisen due to the distribution of property among all family members which may further reduce disputes among blood relatives.
This step may further help to consolidate the family bond with more toleration tendency with each other on petty issues and better understanding due to the inevitable situation arisen due to the distribution of property among all family members which may further reduce disputes among blood relatives.
The Registry Charges could be increased gradually to 8% to the second plot of an individual and 12% on third and 16 % on one's fourth plot. The percentage on one's 5th and 6th plots could be increased to the extent of25% to 35% or even up to 40%.
The benefits due to such an escalating Registry charges are as follows:
The minimum Registration charges may be a huge blessing to the poor or lower-middle-class families or even the middle-class families who are 90% of the first time buyers. These percentage of the category are those who are moving to their own home from existing Rented homes. The happiness index of the country will grow due to a huge contribution from this category
Rent will come down as more and more middle-class citizens start moving to their own homes. So investment in land will be less attractive for the landlords (bhu mafias) due to multiple reasons like higher "Registry charges" as well as due to the interest or rent may no longer remain attractive due to less demand for 'Paying guests', this will bring down the price of the property naturally as the number of 'Paying guests' availability or repeated buyers of property will come down.
Due to lesser availability of paying guests / Rent taker, the buying pressure of investors will come down, which further may lead to more opportunity to the first time buyers and the situation may be favourable for them to make a good bargain due to lesser competition.
Due to lesser availability of paying guests / Rent taker, the buying pressure of investors will come down, which further may lead to more opportunity to the first time buyers and the situation may be favourable for them to make a good bargain due to lesser competition.
Further would like to add that the revenue of the government will not affect too as from one side when the repeated investment tendency before coming down may get distributed among family members, the investment trend may rise substantially from the actual first-time buyers that too in smaller plots which may be the need of the hour.
Ultimately the same may not only contain the inflation on the land but it may bring down the same substantially, which could prove to be an another biggest turning point for the country in the form of a revolution towards housing for all, Home for all.
Sudesh DJV
Indore / MP / India
4th Feb 2018
10:45 pm
sudeshdjv99@rediffmail.comwww.sudeshdjvindia.blogspot.in
एक ही जगह पर हमारे पीएम मोदी की उपलब्धियों पर 100 वीडियो देखें, इस लिंक पर क्लिक करें
or search in Google
"Why Modi is best and must for 2019" and click the link.
.jpg)
Comments
was worth to read, it undoubtedly cleared my vision and thoughts towards 4 BHK Flat In Kolar Road
Your writing skills and the way you portrayed the examples are very impressive. The knowledge about Flats in bhopal
is well covered. Thank you for putting this highly informative article on the internet which is clearing the vision about who is making an impact in the real estate sector by building such amazing townships and Commercial Shops In E8