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India: Realty check

Posted on 27 October 2011

Finally, some concrete steps to clean up the real estate sector are being taken. The recent Supreme Court judgment stating that immovable property can only be transferred via a registered deed of conveyance should plug loopholes that buyers and sellers use to transfer property using power of attorney and other devices, thereby bypassing taxes.
And the draft Real Estate (Regulation & Development) Bill to be introduced in Parliament’s winter session will - if implemented properly - finally afford buyers some security………………………………………..Full Article: Source


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