It is common knowledge that property has become the refuge of black money. People pay up to 70% of the price in black or sometimes even have benaami properties to hide 100% of the ill gotten wealth. A casualty of this has been that real end users are not able to afford property.
The reason for this is that land is a ‘State Subject’ in India. So each state maintains its records separately and in a different fashion. Many states maintain physical records using technology from 1920s. Just like GST, what we propose is a new national system where each and every piece of property is mapped using GPS and then linked to Aadhar.
This would lead to the elimination of disputes, as well as make it very difficult to hide wealth using property.