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A comment on From Underwear to Cars, India’s Economy Is Fraying. Parent comment

Re:From Underwear to Cars, India’s Economy Is Fraying by rohan_shah on Tuesday September 24, 2019 @10:59AM (#21060892)
When you buy a property, you have to register the property (on your name) with the local government body (generally the Municipal Corporation).

The fee paid here is calculated as a percentage of the price paid for the land/property. So everyone buys (on paper) at exactly the ready reckoner rates (the minimum prices) and then pay the minimum taxes (or registration fees). While in reality the prices are way higher than the ready reckoner prices (generally 5 to 10 times) and so the rest of the price is paid in cash (unaccounted black money).

If I may ask: Where in India so you like to spend your time in terms of urban/rural India? Have you found any life-threats just because you're a foreigner?

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Re:From Underwear to Cars, India’s Economy Is Fraying by kranner on Tuesday September 24, 2019 @11:28AM (#21061205)
> While in reality the prices are way higher than the ready reckoner prices (generally 5 to 10 times)

Sub-registrars often refuse to value the property at the ready reckoner price. I've seen transactions where the registered value was more than 60% of the actual value, though this is in an urban area.

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