TITLE

Real Estate Lands in Tax Fraud

PUB. DATE
September 2011
SOURCE
India Today;9/26/2011, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that high-profile buyers of Boulder Hills villa plots in Hyderabad, India, will have to explain to CBI how they purchased the property at a price of just 5,000 rupees per square yard, which is about eight times below the prevailing market price. Real estate company Emaar MGF reportedly undervalued the plots and sold them to prominent politicians, actors, doctors and business men. The tax evasion is estimated at about 856 crore rupees.
ACCESSION #
65815172

 

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