Madras HC proposes restrictions on purchasing houses by NRIs

Madras HC proposes restrictions on purchasing houses by NRIs
05/02/2020 , by , in News/Views

To ensure housing for all, Madras high court has proposed ban on NRIs from purchasing houses in India, prohibit speculative sale, and impose 100% extra stamp duty on purchase of second house.

“Why the government does not impose such restrictions to control escalation of house prices and to provide a house to every family in the country,” a division bench of justice N Kirubakaran and justice Abdul Quddhose wondered.

Suo motu impleading the Union housing and finance ministry as party respondents, the bench has directed them to answer a series of queries including as to how many families have basic amenity of housing in India as well as in Tamil Nadu, population and housing ratio in the country and in the state, when ‘Housing for All’ mission of the central government would be achieved.

Directing the authorities to inform as to whether the central and state have got special schemes to provide housing for the marginalised and economically weaker sections including SC/ ST communities, the bench has also sought the details of the number of families that possess more than one house.

“Why the governments don’t restrict the families/individuals from purchasing/possessing more than one housing unit/flat/plot till “Housing for all” is achieved? Why not the government charge 100% more or extra stamp duty to discourage buying more than one house by a family while purchasing second house? Why not the government conditionally allow the families to purchase more than one house provided that the said family pays 100% extra statutory dues like property tax, electricity charges, water and sewerage charges on the second property?” the bench said.

This apart, the court also wanted the authorities to know as to why they should not prohibit the NRIs from purchasing houses in India in order to bring down the cost of housing.

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