Real estate needs to be dematerialized like stocks
By Rishi Saraf 16-Feb-2017
Presently, buying & selling property in India is quite cumbersome. It is similar to the position buying and selling shares was in the 1990s. Dematerialization solved the problem completely.
Similarly, the government needs to dematerialize all land holdings to make them tradeable through computers. This would minimize all unnecessary risks & litigation.
At the same time, the stamp duties need to be reduced to low rates like 0.50% along with low capital gains tax rates like 5%.
Presently high taxes & stamp duties limit transactions and encourage tax evasion.
With dematerialization buying & selling decisions would happen transparently and more frequently bringing more money to the government. India would climb several steps at once in ease of doing business.