EPPB India Meaning E property pass book, demonetisation vs real estate

Genuineness regarding E property pass book is now discussion by everyone. Will it become implemented in India is now concern of all people. Will every money spend for buying property in real estate sector is safe or not is question of all people. How did such a doubt come back to minds of everyone. It all started with a message about EPPB India.

To clear doubts everyone googled about it to know what is it’s correct meaning and full form. EPPB India means E property pass book which is a speculated fake news made up by some one. But there are Facebook posts that it could be true, because a Property pass book is already in practice in Delhi municipal corporation. This has created lot of confusions among people who are not getting any correct idea on this subject. A Whatsapp message saying about EPPB India (E property passbook) which was shared by lakhs of people in India is behind such a viral news.

People who received Whatsapp message regarding E property pass book immediately forwarded it to tehir friends, relatives in their phone contacts list. If such a message was received few months before demonetisation there would not have been any such misunderstandings. This message would have been neglected saying that it’s a fake one with first look on it itself. Demonetisation of old currency notes by Indian Prime Minister Narendra Modi on 8th November 2016 was a shocking blow to all Indians. There are lot of good advantages to demonetization of currency, throug which fake currency could be made of value of just paper. In same way Black money holders are not able to deposit or exchange their huge currency in their hands at bank accounts. There has been limit specified on deposits limits in savings bank accounts, jandhan accounts, current accounts itself. This withdrawal, deposit limit on accounts made it difficult to black money holders to exchange their old Rs.500, Rs.1000 notes.

From 8-11-16 legal tenders of 500, 1000 denomination currency notes will be made to zero. Intelligent decision by Narendra Modi has been protested by all political parties, black money holders who feared that their money will be lost forever.

This kind of demonetisation rule given by Narendra Modi has made people who are holding benami property to fear of any such situations that may arise in future.

Words said by Narendra Modi in a speech after demonetisation was that, this is not an end and i have many more more projects in mind to make India corruption free for future days. Everyone who is hiding balck money or invested balck money into real estate properties are in fear and having sleepless nights.

Their fear increased when Whatsapp message regarding EPPB India, claiming upcoming implementation of E property pass book became viral.

Will Real Estate Surgical Strike on Black Assets happen ever is now main doubt of everyone. So let us see more details of Fake whatsapp message regarding EPPB India about Real estate Surgical strike on black money.

EPPB India – E Property Pass Book Fake Spam Message

EPPB India

Content of fake Whatsapp message that is considered as spam is as follows,

“E-Property Pass Book (EPPB) – From 1/4/2017 all properties are invalid for one year. You can’t sell or buy any property until u register your properties in the E-Property Pass book. EPPB will be linked with PAN, Aadhar online. Owner has to personally report with ownership proof to Sub Registrar office where spl officers will enter all your property details in EPPB. Once it is entered in EPPB your properties will become yours.

They will have one more spl counter for emergency sellers, mortgager’s, buyers where they can do exchange of properties but with full details of all properties. Upto 31/3/2018 all properties will be entered in EPPB. From 1/4/2018 Govt will take over the properties not entered in EPPB.”

Fear multiplied in everyone’s mind after reading this message. So everyone started looking online to get answer to this question. Is it real that EPPB India will happen from April 2017.

If asked now about whether it’s possible or not. Answer is No. there will be no such implementations in India. Considering fact that demonetisation of currency was done over night without any warnings, we can’t give any advice to black money holders.

If you are reading this article it means that you are in fear of your real estate purchased using black money will be lost. So our advice is that make sure you make purchases of real estate properties by making legal transactions, paying correct taxes.

Also don’t purchase real estate by giving sky high dream prices. Make sure that amount you pay is as per land cost in that area By this way you can also save money on purchasing properties. When demand goes down, prices of real estate will come down.

Presently Income tax department is collecting information of everyone who is purchasing land or property. All persons who have annual income of Rs.2,50,000 or above quote their PAN number (Permanent Account Number) in Property registration. This is a compulsory rule now and all Sub registrars have been given instructions to file Income tax returns from April 2017.