In the Indian Real Estate Scenario, the Government currently is playing the role of “Ek Villian” with taxes of nearly 11%. We do not know what will happen in April 2016, but the truth remains, that the home buyer is today paying nearly 11% as taxes if he has to buy a dream home.
On one hand the Government propagates for Housing for all and on the other hand we have taxes which are adding to the burden to a home buyer.
In the Indian context, we have seen, that whenever the taxes have been rationale, there has been a fair amount of pay out to the Government. By having higher taxes, the Government itself forces people to find loop holes in the law and show under valued transactions.
The Government must not make housing the scape goat for taxes.