Goa: Stern action against gross undervaluation of property

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Panaji, Aug 29: Goa Chief Minister Digambar Kamat on Friday, Aug 29 told the state legislative assembly that the government would initiate stern action against those who brought/sold away land by showing gross undervaluation of the property involved.

Replying to a question on the FEMA (Foreign Exchange Managment Act) violation by foreigners coming to Goa on tourist visa and purchasing properties, the Chief Minister said more than 500 such violations had come to the notice of the government and had been referred to the Enforcement directorate.

As many as 175 violations had been under investigation, of them 100 cases have been established.

He said the government had instructed the sub-registrars to check the documents of foreigners before registration of the properties to prevent violations.

A legislation preventing the foreigners from purchasing properties in Goa adopted by the House had been accented by the President, he said.

The Chief Minister assured the Opposition leader Manohar Parrikar that he would examine the gross undervaluation cases both of foreigners and Indians and deal with them deterrently.

UNI

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