Benami transaction are one of the major source for parking the unaccounted wealth by the individuals and firms. Strong laws will help to curb the menace of benami transaction and hence the black money and eventually corruption. It was one of the step taken by the Govt. to deal with the issue of corruption. The major significance can be summarised as below:
- This law will have long term impacts on real estate industryin the country and will increase the practice of including the correct name in property transactions.
- This in turn would bring transparency in residential market. With an increased transparency, the risks would be minimizedand residential properties transactions would get boost.
- It will also boost the confidence of lenders(banks or private individuals).
- The stringent law would also bring down the prices of real estatebecause such transactions are done by cash rich investors to park their unaccounted wealth in real estate.
- Moreover, this will also increase the tax revenue for the Governmentby curbing unaccounted money into the system.
Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC Notes brings Prelims and Mains programs for PPSC Prelims and PPSC Mains Exam preparation. Various Programs initiated by PPSC Notes are as follows:-
- PPSC Mains Tests and Notes Program
- PPSC Prelims Exam 2024- Test Series and Notes Program
- PPSC Prelims and Mains Tests Series and Notes Program
- PPSC Detailed Complete Prelims Notes