REALTY AUDIT AVENUE

Benami property transactions and registration of undervalued real estate deals may not be that easy if the government has its way. The centre is likely to make third-party auditing mandatory for all property transactions. Property transactions would require a certification from chartered accountants to ascertain that the property has not been undervalued to save registration fee. Registration fee, which varies from state to state, is levied on the value of the property. According to sources in the urban development ministry, the proposal is already being discussed.