New circle rates in delhi

It refers to unjustified opposition of BJP to new circle-rates announced by Delhi Government. It is a known fact that increasing role of black money and not the registration-fees required on nominally fixed circle-rates is root cause for plots and houses to be out of reach of common persons. Even now-announced new circle rates are just a small fraction of actual market-price of land prevailing in the city. Governments should frame some practical criteria whereby circle-rates may be revised annually and too be in tune with actual market-values of land in different areas to avoid big role of black-money in land-deals. Maximum circle-rate of rupees 86000 per square meters does not stand anywhere in colonies like Sunder Nagar where land-price is even more than ten times of this amount.

Since currency is the oxygen to all black-money deals, only and best remedy is to induce harsh measures so that people may find excess currency as ordinary ?paper?. Union government should follow sensible and advanced countries by discontinuing currency in high denominations of rupees 500 and 1000. Permanent provision of voluntarily disclosing unaccounted money on payment of income-tax at normal tax-slabs should be there in new-to-be implemented Direct Tax Code, so that such disclosure by seller of property may automatically make Income Tax Department detect those buying the property by black money!