The report contains significant results of the performance audit on 'Assessment of Assessees in Real Estate Sector' completed by Department of Revenue (Direct Taxes) during financial years 2013-14 to 2016-17.
With the real estate already reeling from a general economic meltdown, buying and selling of properties in the Mumbai Metropolitan Region (MMR), which is India’s biggest real estate market, had slowed down considerably after the demonetisation in 2016.
Anarock Property Consultants chairman Anuj Puri says any government facing polls usually try to make a strong electoral pitch by offering tax sops or promises of welfare schemes even in interim budgets.
The computerised system using GIS technology was meant to be implemented in all the municipal corporations, municipalities and urban development authorities of the state and was aimed at eliminating the “human interface”.
According to SP Crime Ashok Kumar, the criminal activities include putting up unsanctioned plots for sale, as well as taking payments for housing units that they were in no capacity to provide to the buyers.