Regret,
Lots Of Regret We Have Always Been In Our Houses Have Heard Our Parents, Grand Parents Discussing That 20 Years Ago That Land Was Going For Rs-5 Lakh If Anyhow I Had Taken That Then Today It Will Be Of Rs-50 Lakh. I've Missed It. Our Parents Work Hard Their Entire Lives They Work For 20 Years, 25 Years, 30 Years After That Sometimes Very Hardly One Land In Life Or Can Take One House. And As Long As They Can Take It Then For 20-25 Years They Blame Themselves. Sometimes They Do Double Shifts Sometimes Despite Of Being Ill In The Fear Of Getting Their Salaries Cut, They Go To The Office. Everywhere They Save Money. Sometimes They Walk By Foot In The Sun Instead Of Taking Auto Or Bus So That They Can Save Money From It. So That 5 Years Later They Can Give Their Kids Their Own House. Their Entire Lives They Make Sacrifices So That They Can Buy A House For Us. Do You Know? The Blame They Give Themselves It Is Completely Wrong. It's Not Even Their Faults. The Reason They Cannot Buy Their House It's Not Their Fault. Do You Know What The Reason Is? You Are Going To Get Very Angry I Am Also Getting Very Angry After Knowing This. It Is The Fault Of Corrupt People. And Who Are Usually Corrupt We All Know That. So Because Of Those Corrupt People Our Family Members Can't Buy Their House. Today I Am Just Not Going To Tell You That How Because Of Corruption Your Family Members Cannot Buy Their House. You Will Also Know That How Because Of Corruption In India Real Estate Prices Are Constantly Increasing And They Are Becoming Unaffordable.
Now Today We Take A Sample Home Umm... Mr. Graphics Man, Please Bring A Good Sample. So... Let's Think That This House If Of Rs-1 Crore. Just For An Example To Easily Calculate It. So First Of All It Becomes 20% Expensive Because 20% Tax Is Charged On It. Now I Will Tell How Corruption Is Related To It But 20% Tax Is Charged On It. 7-8% Is Stamp Duty Or Registry And If It's An Under Construction House There Are Many Different Categories Of GST But If It's An Under Construction House And You Haven't Got The Completion Certification For It The Builder Is Still Building It Then GST Is Needed. After Completion Certification GST In Not Needed But It Gets Included In The Price And Its Price Increase. So If It's An Non Affordable Housing Segment House Normal Category House And It Is Under Construction Then It's Charged With 12% GST And 7-8% Stamp Duty. That Means 20% Of Tax Is Levied. Rs-1 Crore House Become Rs-1 Crore And 20 Lakh Just Because Of Taxes. Now High Taxes Breed High Corruption. Because More People Will Want To Save That Tax. So They Will Try To Buy That House With More Black Money. So The Reason I Am Talking About Taxes Is That Because As The Tax Is This Big That's The Corrupt Get Encouraged By It. There Is No Justification. But Today I'm Going To Tell You That How They Not Only Save Tax By Corruption But Also Make That Property More Expensive. Now Let's Know That A Common Man Umm.. Not That Sweeper But The Real Common Man. A Common Man And A Corrupt Man How They Buy Their House? So The Common Man He Will Get This Rs-1 Crore House For Rs-1.2 Crore Inclusive Of All Taxes. So He Will Give Some Money As A Down Payment Like Rs-25-35 Lakh And The Rest He Will Take A Prolonged Period Home Loan Of 15-20 Years And With Great Difficulty He Will Be Able To Buy That House. Vs Let's Come To A Corrupt Man. Think That His Yearly Is Rs-10 Crore. So If He Shows Income Tax On It That I Made This Much Profit. Then Including Of All The Charges Then He Will Have To Give More Than 40% In Taxes.
That Means He Made Rs-10 Crore Then He Will Have To Give Rs-4 Crore As Tax. But What Will He Do He Will Not Show The Profit Of Rs-10 Crore.
He Will Show That He Had Many Expenses
To Repair This Machine He Will Show Increased Salaries And He Will Make These Fraud Bills. He Will Show That He Gave Someone Rs-2 Crore He Transferred From The Bank And Took Cash In Exchange Of It.
And He To Save This Tax Of Rs-4 Crore Will Show This Rs-10 Crore Profit As Zero. He Will Take Cash By Showing Expenses. And He Will Generate Rs-10 Crore Of Black Money. Now On That Rs-10 Crore The Rs-4 Crore Tax He Would Have To Give If He Had It As White Money. He Saved It. So His Rs-4 Crore Became Free. But There Is One Problem. Now He's Got Black Money Of Rs-10 Crore. And You Cannot Use Black Money Everywhere. You Can't Buy Shares With It You Cannot Bank Transfer It You Cannot Put It In The Banking System. Then What Will He Do? He Will Go Towards Property. That Rs-10 Crore He Will Try To Use It In The Property Market. Because Rs-10 Crore Cash Is Not Safe To Keep At Home Is Not Safe To Keep In Bank Locker Is Not Safe To Keep Anywhere. He Will Try To Invest It In Property And How To Convert It In White. I Will Tell You All Of This. But If That Rs-10 Crore Is Now Needed Then It Is Needed In The Real Estate Market. Now Think That There Was A Builder Who Made 15 Houses Of Rs-1 Crore Each. His Project Was Of Rs-15 Crore For 15 Houses. Now That Honest Common Man He Wanted To Buy One House From It. He Just Was Managing The Down Payment Money. He Was Almost Ready To Make The Deal. Right Then This Corrupt Man Got That Rs-10 Crore Black Money. And He Found Out That There Is 15 Houses Available And Each House Is Of Rs-1 Crore. He Has Got Rs-10 Crore Black Money. He Will Say That, "OK" "I Will Invest It Here". And He Will Go To That Builder And Will Say, "I Want 8 Houses From It". Now As Soon As The Builder Got To Know About That These 8 Houses Are About To Be Sold. What Will He Do? First Of All, He Will Increase The Prices Of The Rest 7 Houses. Because Half Of His Products Sold Out And He Got Back His Investment. And Now He Will Sell The Rest 7 Houses At His Own Price. So The Rs-1 Crore Price That He Decided He Will Think That This Rs-1 Crore That I Sold Was Very Cheap As Soon As I Sell Them For Rs-1 Crore 8 Houses
Immediately Sold Out. Now For The Rest I Will Not Sell Them For Rs-1 Crore I Will Sell Them For Rs-1.25 Crore. So The Price Increased By Rs-25 Lakhs. Until Then Your Parents Have Managed The Down Payment. They Went There With High Hopes That Here Is Rs-25-30 Lakhs Now Sell The House To Us For Rs-1 Crore. And The Builder Says, "No No No" That Was Last Weeks Price. This Weeks Price Is Rs-1 Crore 25 Lakhs. And Again Your Parents Were Just About To Buy The House The Price Suddenly Increased And TheynCouldn't Buy It. Now The Question That Comes Here Is That How Can That Corrupt Man Can Buy So Many Houses At Once? He Can Buy It Because For That House He Is Getting A Close To 50% Discount. Your Parents Are Getting That House For Rs-1.2 Crore. Do You Know How Much Will It Cost For That Corrupt Man? So That Corrupt Man Will Go And He Will Say I Have Huge Amount Of Black Money I Want To Make The Deal In Cash. Now The Builder Will Say, "OK" You Give 30% In White Because The Circle Rate Is Like That You Have To Show That Much In White. The Registry Will Be At That Cost So You Give Rs-30 Lakhs In White. Now As Soon As He Gave Rs-30 Lakhs In White So Now The Registry Charges And The GST Of 20% Will Not Be Counted On Rs-1 Crore. It Will Be Counted On Rs-30 Lakhs. For Rs-30 Lakhs It Will Be Of Rs-6 Lakhs. If That Rs-1 Crore Was Fully White And If The Agreement Was Made With That Rs-1 Crore So The Government Would Have Got Rs-20 Laksh In Taxes. Now They Are Getting Rs-6 Lakhs. So Rs-14 Lakhs Is Already Reduced From That House For Him. Rs-1.20 Crore, Which Your Family Will Have To Pay For Him That Is Rs-1 Crore 4 Lakhs. So He Already Go A Rs-16 Lakhs Discount.
Besides This Remember That He Has Saved 40% In Taxes. He Saved Rs-4 Crore In Taxes. So What Is Going On In His Mind? "If The House Is A Little Expensive Then Take It"
"I Have Saved 40% Already." So Here I Think That The 40% Which I Would Have To Give To The Government Here I Also Got A Discount On That. Because That Money Either Have Gone To The Government Here It Is Going To The Builder. And Also I Am Getting Something In Exchange For It. So Now Think If The Builder Didn't Had That Rs-10 Crore. If He Had Given The 40% Tax Then He Would Only Have Rs-6 Crore. Then He Wouldn't Have Thought About Buying 8 Houses He Would Have Bought 4 Or 5 Houses And The Builder Wouldn't Have Increased The Price By Rs-25 Lakhs He Might Have Increased It By Rs-5 To 6 Lakhs.
But Think Of It Like This. When He Was Buying The House For Rs-1 Crore He Has Saved 40% Tax On It On Rs-10 Crore He Saved Rs-4 Crore And He Saved Rs-40 Lakh In Tax On Rs-1 Crore. That Means A Rs-1 Crore House He Was Already Getting It For Rs-60 Lakhs The Rs-40 Lakhs Was Already Going To The Government. After That He Also Saved Rs-14 Lakhs On GST. So He Saved Rs-40 Lakhs On Income Tax Saved Rs-14 Lakhs On GST Total Rs-54 Lakhs He Has Saved. A Rs-1 Crore 20 Lakh House After Taxes For Him It Only Costed Rs-66 Lakh. So Your Family Is Getting That House For Double The Price The Corrupt Man Is Getting It For Half The Price. How Will He Now Make More Investment He Will Keep On Blindly Investing In Real Estate Because He Is Getting A Straight 50% Discount Compared To You. And The Much He Will Buy That Much The Demand Will Increase In The Market Supply Will Reduce And The Real Estate Prices Will Keep On Increasing. But He Doesn't Care He Is Always Getting A 50% Discount. It Concerns You It Is Going Out Of Your Affordability. And He Is Great Buying It At Any Price With Black Money. Now Here A Question Comes That How Can This Happen? A Minimum Circle Rate Is Decided The Agreement Will Be Made On That Circle Rate. So Circle Rate Means The Government Says That, If You Are Buying A House In This Area So We Know That The Rate Here Is Rs-2000 Square Feet No Builder Can Sell For Less Than This. That Is Also Not A Issue. What The Builders Do Is They Launch Many Big Five Star Projects. Where They Add Amenity Charges Add Maintenance Charges Add Swimming Pool, Gym, Club House Charges. And Say That We Will Not Sell It For Rs-2000 We Have A Five Star Project. We Will Sell It For Rs-6000 Square Feet Triple Of The Circle Rate. So When They Set The Price Triple To The Circle Rate Just For Show Rs-6000 Square Feet. So They Can Whenever Reduce That.
That Means If That House Is At Rs-6000 Square Feet For Rs-1 Crore And The Circle Rate Is Rs-2000 Square Feet. That Means
They Can Reduce It By 66% They Can Reduce The Price By 2/3 And Legally They Will Sell That House For Rs-33 Lakh. They Will Show That We Have Sold The House For Rs-33 Lakh At Rs-2000 Square Feet Circle Rate. But In Reality It Sold For Rs-1 Crore And The Rest Rs-66 Lakh They Will Take Cash For It. So That Corrupt Man Is Also Happy. From His Rs-10 Crore, He Adjusted Rs-6 To 7 Crore Very Well. So These Corrupt People In Every Town, In Every City In Every Project Most Of The Units Most Of The Real Estates Are There They Capture Them With Black Money. And You And I Cannot Buy It. Now What Can We Do About It? I Don't Know We Can't Do Much. I Know This That One Time When I Made A Video On Ed Tech Two Or Three Other People Also Made Videos On Ed Tech. Everyone's Video Went Viral And A Discussion Was Made At The Parliament.
The Social Media Has This Power. If We Want Real Estate To Be Affordable Black Money Needs To Get Out From This. People Like Us We Should Be Able To Buy Them
And From It This Artificially Inflated Prices Should Be Finished. I Don't Know What We Do Can. Maybe If You Share This Video It Reaches To Many People. To Peoples Whatsapp, Twitter, Facebook Instagram And To Their Homes. So Much Discussion Should Be Made About It. That You And I Together Can Bring A Revolution And Any Law That Can Come On It. Maybe The Chances Are Very Low Buy It Is Not Impossible. So Can You Try? Can You Share This Video? Let Us Try From Real Estate In This Country Any Law That Can Be Brought To Remove Corruption. Can You Try This With Me? So Please This Video Wherever You Can Share It There.
This Is Karan Tiwari
Signing Off
Bye Bye