PANAJI
Aam Aadmi Party has criticised the BJP government for increasing the registration fee for the purchase of properties priced below Rs 75 lakh. Stating that this is the exact price segment that is affordable for most Goans looking to invest in their first home or purchase small commercial premises for their business, State convenor Rahul Mhambre said BJP is actively trying to discourage Goans from being home-owners.
“The industry body CREDAI has openly stated that government corruption adds up to 8% to real estate costs. Every permission and sanction requires the payment of bribes even if a project is completely in accordance with the law. Sand and stone extraction are laden with illegalities and corruption. CM Pramod Sawant will not reduce this corruption cost because his party’s and MLAs’ greed has to be satisfied, but he won’t think twice before adding more burden on ordinary Goans,” Mhambre suggested.
Stating that stamp duty and registration rates are usually decided at the time of Budget, Mhambre said the timing of this decision is questionable.
“In the recent budget, the government had actually promised to reduce infrastructure taxes to stimulate the real estate sector, but this sudden decision to increase registration fees is a U-turn. Law Minister Nilesh Cabral and CM Sawant are not aware of market dynamics. An increase in taxes does not always mean a hike in revenue, and can actually be counter-productive in sectors like real estate,” Mhambre said.
Mhambre informed that the AAP government in Delhi had recently reduced the circle rates for property registration, and the neighbouring Maharashtra government had reduced registration fees, in order to stimulate demand in real estate.
“We heard many announcements by the CM regarding Covid-related compensation and financial reliefs, but not a single Goan has received a rupee yet. But the CM has already moved to take more money from Goans in the form of increased taxes,” Mhambre charged.
