E-registry of property to bring transparency

INDORE: To bring in transparency and check corruption, Madhya Pradesh government’s ambitious project for online registry of property, underway in five districts, is likely to be implemented across state.

State government, in an affidavit filed before Indore bench of Madhya Pradesh high court on Tuesday, claimed that technical problems in implementation of the new system have been fixed and ready for implementation in other districts.

The state government, through a gazette notification dated December 8, 2014, had implemented e-registration of property on pilot basis. After the notification, properties were registered online through software ‘Sampada’. Continue reading E-registry of property to bring transparency

Property tax defaulters feel the heat

NASHIK: The civic body has started acting tough on property tax defaulters, confiscating properties of 76 such offenders and planning to auction those in the first week of April.

Sources in the Nashik Municipal Corporation (NMC) said the date to auction the confiscated properties would be announced in a day or two. The NMC had confiscated total properties of 82 defaulters, giving them a deadline of 21 days to clear the dues. Of them, only six defaulters cleared their dues, albeit partly. Following this, the NMC released their properties. Now, further action for auctioning the confiscating properties has been started by the civic administration. Continue reading Property tax defaulters feel the heat

Govt’s money laundering crusade looms over India property bubble

Siddharth Sharma, an aviation consultant, was looking to buy an apartment near New Delhi. Of the eight projects he viewed, developers of three expected part payment in cash, an illegal but common demand in India. “With my salary, I don’t generate much cash,” said Sharma, 43. “For me, to cough up so much was impossible.”

The practice of investing in real estate with untaxed income or unaccounted wealth is widely prevalent in India. That could change if Prime Minister Narendra Modi has his way. His government is planning a new Bill to curb “black money” that has inflated property prices, narrowed options for buyers like Sharma and kept homes beyond reach for many.

Finance Minister Arun Jaitley told lawmakers on February 28 he plans to introduce a revamped version of a lapsed Benami Transactions (Prohibition) Bill in the current session of Parliament. Benami means anonymous, and such deals often involve concealing the identity of the true buyer or the seller. Continue reading Govt’s money laundering crusade looms over India property bubble

Coal scam: ED to attach ex-MoS’s property

NEW DELHI: The Enforcement Directorate is set to attach a few properties of former minister of state for coal Dasari Narayan Rao following allegations of money laundering in the coal scam.

The ED has identified the properties and the attachment process will begin in a few days, sources said. According to sources, Naveen Jindal’s Jindal Steel and Power Limited had allegedly transferred Rs 2.25 crore into Rao’s company Saubhagya Media Limited in lieu of favours granted by the minister.

The ED had examined Rao in connection with the case apart from other coal scam cases it is investigating.

Sources said probe into the coal scam case is at an advanced stage and investigators have listed the properties which will be attached as part of this case. Continue reading Coal scam: ED to attach ex-MoS’s property

Organizers ensure there’s no damage to public property

Nagpur: In an attempt of facilitating ideal open spaces for citizens with TOI-MT’s Happy Streets campaign, no stone is left unturned in making sure that any kind of damage to public property is avoided.

The community-centred initiative, which kicked off to a great start in the city last Sunday, witnessed participation of more than 8,000 citizens who indulged in a plethora of activities that were in store of them. Apart from encouraging healthy lifestyle and giving an innovative platform to the public for various recreational activities, the event also aims at safeguarding public property and proper mitigation measures are kept in mind at every step.

Despite the event witnessing such huge crowd, the organizers are ensuring that roads, pavements or other public assets are not disturbed throughout the event. To avoid damage to city roads, a portable stage arrangement is being done by the organizers. “We did not want to dig up roads for erecting a stage or pandals. So, we decided on an easily transportable stage which can be wrapped up in no time. Also, movable barricades and ropes are used to block traffic flow which do not damage the road in any way,” said event manager and owner of Colour Events Abhijeet Pawar. Continue reading Organizers ensure there’s no damage to public property