President G.W. Bush and his tax-breaks for the rich policies have their fans in the very Leftist state of Kerala in far-away India.
Purchasers of residential real estate used to pay a tax of 3.1% of the value of the property to register the sale. Under new rules effective from April 1, purchasers of stand-alone houses on their own plots of land will continue to pay the 3.1% tax. Purchasers of apartments or flats, however, will pay at a 15.5% rate.
With the land values skyrocketing in the cities, the type of housing the middle class can realistically hope to own there is apartments.
Wednesday, March 28, 2007
Bush fans in Kerala?
2007-03-28T23:40:00-04:00
Arun
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