prasad1
Active member
In the Nirav Modi case and others, the government "Attaches" valuable property. It may be sound good and ominous. The common public forgets about it next day.
The government is least bothered about the property value after 10 minutes.
The owner of the property is either absconding or in Jail, so obviously they are not going to take care of the property.
No one pays the property Tax, No one occupies or manages the property. The property remains vacant and derelict. It becomes an eyesore. It attracts Rats and vandalism.
There was a beautiful house in my brother's neighborhood worth Rs 10 CR, it stands vandalized today. The authorities and the neighborhood get ZERO restitution.
In the USA Tax courts are swift and after due process, the buildings are auctioned off, so the neighborhood is preserved. The authorities get at least 70% of the value.
The government is least bothered about the property value after 10 minutes.
The owner of the property is either absconding or in Jail, so obviously they are not going to take care of the property.
No one pays the property Tax, No one occupies or manages the property. The property remains vacant and derelict. It becomes an eyesore. It attracts Rats and vandalism.
There was a beautiful house in my brother's neighborhood worth Rs 10 CR, it stands vandalized today. The authorities and the neighborhood get ZERO restitution.
In the USA Tax courts are swift and after due process, the buildings are auctioned off, so the neighborhood is preserved. The authorities get at least 70% of the value.
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