There has to be a restriction on purchase of Residential Land and apartments to prevent trading like any other liquid assets.Land is pretious like water and everyone in the country should be given equal opportunity to own a piece of Land for living. But unfortunately the only income that states in our Country get is from selling Liquor and Land .Since they are heavily dependent on Revenue and Excise Dept earnings , they are not in a position to impose such a ban. In southern states like Karnataka,Tamilnadu and A.P , Govts are on a land selling spree to private investors to make quick money.Some states cannot even give salaries to employees without selling thousands of acres of land every month. such a pity state!
RE:Stop speculating - Land is not a Stock
by slicktiger on Dec 14, 2007 10:58 PM Permalink
1.One has to register the land within one month of purchasing a propery. 2.Actual Land prices,appreciation and registration data available online. 3.One must not be allowed to sell residential land with in 12 months of purchase.
Probably doing above helps contain the prices and affordable for everyone.After all selling/buying land is no ones business.
RE:Stop speculating - Land is not a Stock
by Girish Rao on Dec 15, 2007 12:45 PM Permalink
implementation becomes tough the problem is not the law, it is the enforcement of law. Good points though, also government should heavy taxes on all those who choose to keep their apartments vacant in hopes of a better rent/better price. Atleast by renting it out, somebody's problems will be solved.
