Under-valuation of land to be examined

NT NETWORK
Posted on 2008-08-30
PANAJI In an attempt to crack down on under-valuation of Goan lands bought by foreigners, the Chief Minister, Mr Digambar Kamat on Friday said that before the next assembly session the government would collect all matters related to under-valuation of Goan lands bought by foreigners. The land deals involving the foreigners would be categorised under the heads of ‘foreigners’ and ‘persons of Indian origin’, and action would be taken against any violation of rule.
Replying to a related question, during the question hour, the Chief Minister also said the government has provided some guidelines to the sub-registrars after a number of cases as regards under-valuation of Goa lands, in the land deals mainly connected with foreigners were noticed.
"Furthermore," he informed, “The House has already passed a related legislation, which is now before the President of India for consent.”
Providing statistics about the land deals that had taken place in Goa, between 1996 and 2006, and not involving the locals, Mr Kamat said the period had in all 586 such cases being registered.
“Altogether 313 of them were prima facie found to be involved in Foreign Exchange Management Act contravention and were referred to the directorate of enforcement, Mumbai, in August 2006, November 2006 and October 2007,” he informed, pointing out that 98 cases were not in contravention of FEMA, while 175 of them are still under scanner, and being investigated into.
“The market rates of lands in Goa have also been published in a gazette notification,” the Chief Minister brought to the notice of the House.
The leader of the opposition, Mr Manohar Parrikar stated that there are a number of cases wherein, besides the FEMA violation, the registrar has accepted gross under-valuation of land purchased. “A Portuguese national has in fact, purchased 6,459 sq mts of land at Altinho, Panaji, at the rate of Rs 15.48 per sq mts,” he disclosed.
The opposition leader also inquired as to whether the speed money paid for registration purpose was accepted in foreign currency.