Is not investment in properties just black marketing ?

Guest (Querist) 06 July 2010 This query is : Resolved
Is not investment in property just black marketing ?
If we store Wheat,Sugar,Ghee ,Rice etc. in big quantity ,we may be charged of black marketing.But if a person who is residing in his owned house and invests in properties which are not going to be used by himself, Is not this black marketing ?

He either keeps these properties empty or gives on rent.The purpose of such investments are just investments not any other use.Such investments are made just either to earn rent or for getting the apprication of the rate of property.Does not this practice keep many really needy people deprived off their dream of owning a house ?

Please respond keeping in mind that yet a very big number of population of our country is homeless.

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DEFENSE ADVOCATE.-firmaction@g (Expert) 06 July 2010
This is the real issue between true communism not todays fellow travellers and capitilism.

Parthasarathi Loganathan (Expert) 06 July 2010
But this issue can be addressed once Registrar's office and Income Tax Office are linked online so that higher officials can have access to the Income details of both vendor and buyer of the properties. Even RTO office and registering vehicles and Banks maintaining accounts should have access to Income Tax details of buyers to

B K Raghavendra Rao (Expert) 06 July 2010
Essential commodities cannot be hoarded. The food grains or other commodities that are consumed everyday is different from a wealth like immovable property. If ownership of property is viewed as black marketing then there is no life for human being. No one can own a jewellery. No one can own more than one car. No one can own more than one site or a house.

We live in democracy wherein we have right to own properties but not hoard food grains or daily commodities.

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