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The Income Tax Department has detected discrepancies worth nearly INR 45,000 crore in real estate transactions after conducting searches and verification exercises at sub-registrar offices in Gurugram and Mohali. The investigation focused on possible irregularities in reporting high-value property deals, including suspected undervaluation and incomplete disclosures. Officials are examining transaction records, registration data and financial filings to identify mismatches. The findings come amid tighter scrutiny of the real estate sector, where authorities have been increasing monitoring of property transactions to curb tax leakage, cash dealings and reporting irregularities across major markets.
The Income Tax Department has uncovered discrepancies worth around INR 45,000 crore in property transactions following searches and verification exercises carried out at sub-registrar offices in Gurugram and Mohali. The action was part of a wider investigation into suspected irregularities linked to high-value real estate transactions and reporting practices. Advertisement
Officials involved in the exercise found major mismatches in transaction data during spot verification operations conducted at registration offices. According to officials familiar with the matter, the department is examining whether several property transactions were either underreported, incorrectly disclosed or structured in a way that may have resulted in tax leakage. Authorities are also reviewing cases where property values declared during registrations may not have matched actual market-linked transaction values.
The searches were focused on records maintained at sub-registrar offices, which handle property registrations, ownership transfers and stamp duty-related documentation. Tax authorities are understood to be cross-checking property registration details with income disclosures, banking records and financial transaction data to identify inconsistencies. The exercise is also expected to help authorities track cases where high-value property purchases may not align with the declared income profiles of buyers or associated entities.
Sources indicated that several transactions are now under detailed scrutiny and further investigations could extend to developers, brokers, investors and individuals connected to suspicious deals. Officials are also likely to examine whether cash components were used in certain transactions and whether complete details were disclosed during registrations.
The development comes at a time when the government has been increasing oversight of the real estate sector through technology-driven monitoring and data analytics. Over the past few years, authorities have intensified checks on high-value financial transactions, particularly in property markets where undervaluation and unaccounted cash dealings have remained longstanding concerns.
The Income Tax Department has also been using information available through annual information statements, property registration databases and other financial reporting systems to identify unusual transaction patterns. In recent years, tax authorities have issued notices in several cases where property purchases, sale values or investment patterns did not match disclosed income records.
Industry observers said the latest findings could lead to tighter compliance requirements and stronger monitoring mechanisms at registration offices. They added that the increased scrutiny may also push greater transparency in property documentation and transaction reporting across major real estate markets.
Real estate transactions in India are closely linked to circle rates and guidance values fixed by state governments. However, in many cities, actual market prices often differ from officially recorded values, making such transactions a key area of focus for tax authorities. Experts believe the latest investigation may encourage states to strengthen digital registration systems and improve coordination between tax departments and local registration authorities.
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