If the collector rate is Rs 12 lakh per area in a village ,that land is selling at Rs 50 lakh leaving a huge gap of Rs about 38 lakh between the black and white money.
Raghbir Singh Brar
Faridkot
Email:raghbirsinghbrar@gmail.com
Right under the nose of the Punjab government, crores of rupees of black money is being adjusted by the land sharks in Punjab by buying agriculture or commercial lands in the state.
The prized parcels of land along with the major roads ,including the state and national highways are looking to be sold, as the concreate walls have been coming up or are already up around large circle of land.
The rich agricultural land is turning into the uninhabited encircled walls of concrete. The crops have been replaced by concrete which would finally result into the scarcity of food.
“About 30 plus acres of land is going to be sold in a village of Faridkot district. About a year ago, the deal was being negotiated at about Rs 40 lakh per acre, but within a year, this large chunk of land has attracted the buyers with an offer of Rs 55 lakh per acre. The collector rates in that particular village for the land are at about Rs 12 lakh per acre land. This way, per acre of land, Rs 43 lakh rupees is an unaccounted cash. The deal was paused because the brokers from the side of the purchase wanted to get the land registered at the same day while the seller wanted time to get the black money adjusted in two days, “claimed a source whishing not to be named.
“There is more than 30 acres of land. The registration would be done at Rs 12 lakh per acre as per the collector rates. The purchasers want to pay the other amount in cash, as they want to convert the black money into the white one. But this way, the seller would get about Rs 16 crore as black money. How can he adjust that amount in one day? He has promised that he would sign all land sale deed documents but get the photographs clicked next day or two days later after adjusting all 16 crore of money, which is supposed to be paid in cash,, ”claimed a source wishing not to be named because of backlash.
“The collector rates are now between Rs 11 lakh to 18 lakh for agriculture land now in most of the villages. This way, if one gets land registered at the fixed rates, he may have to pay about 90000 to 162000 per acre roughly at about 9 per cent of registration fees. But if the collector rates are increased to 30 to 40 lakh peer acre, which is real price of the agriculture land and the registration fees is decreased to 2 or 2.5 per cent, the issue of black money could be resolved because the purchaser would get the registration of land at the genuine rate of purchase,” I ask the question to some property dealers.
“This is not possible. The government knows everything. The land is being purchased only by those who have accumulated huge black money, which is unaccounted cash. If they buy the land at documented price which is much higher , they must have to prove their genuine income which is not there. They have black money and they want to turn it into the white by buying the land. This way they can easily do it, “claimed a source.
The tax evasion is also there this way.
He said that only politicians, bureaucrats and other influential have the ill gotten money which dominant the respective governments. So this is very easy way for them to adjust the ill gotten money, he said.
“This is river flow of black money. As the rivers of waters gets divided into the canals, then water distributaries and finally into water channels and dry up into the fields, the flow of the black money is like this. It is a river of black money which continue to divide and finally getting dried up in Punjab lands.
Aa loss for the farmers suffering from the land accusation projects
When some government acquires lands from the public for government purpose, the compensation is being determined by the sale deeds of the last three years. If the sale deeds are ranging between Rs 12 to 19 lakh per acre for agriculture land, the three fold compensation supposed to be given is about RS 36 to 57 lakh while the actual price of the land is already between Rs 40 to 60 lakh.
“If there is a larger piece of land for sale, the seller can grab as much price as much he wanted because some of the people have huge black money. But selling small peace’s of land fetches lower prices,” said Jaswinder Singh, a property dealer from Bathinda.
It also leads to corruption at the offices of the registrars.
The office of the registrar knows this loophole and taps it too leading to corruption in the system of revenue.
How the black money is disposed off
“I had some unaccounted cash as one of my relative had sold land. Some people from Ludhiana contacted me and they said that their people would show me a ten rupees note whose number they had sent me earlier. They came and took away all the cash by showing me that note. I was very uncomfortable with that money and finally I was lucky that I got red of that unaccounted cash which my relative earned by genuinely selling his land, ‘claimed another source wishing not to be named fearing back lash.
