In a significant crackdown on suspected improprieties in real estate transactions. The Income Tax Department has launched a massive inquiry into property deals worth nearly ₹2 lakh crore in Wazirabad. One of the most high-profile and profitable tehsils of Gurgaon.

Wazirabad, located between central Gurgaon and major upcoming projects, has long been a hotspot for land and real estate investment ITD Investigates. The tehsil is a major contributor of revenue to Haryana, with registry-based revenue estimated at ₹25,000–₹30,000 crore a year. Yet, the government has raised concern about an increasing trend of large-scale discrepancies in valuation, registry trends, and potential tax evasion.

Nature of the Probe

As per reports, the I-T Department is probing several high-value transactions that could have been under stated in registry documents. The real market value of the land or property was allegedly concealed to reduce stamp duty and income tax liabilities. These could include:

Transactions conducted through cash elements or undisclosed transactions

Employment of benami (proxy) parties

Fiddling with circle rates and real sale prices

Registry records of the last few years are also being inspected closely by officials, and notices could be served to property developers, brokers, and individual buyers involved in such transactions if irregularities are detected.

This criticism has generated a tidal wave of fear among the Gurgaon real estate market, especially in adjacent sectors like Golf Course Road, DLF Phase 5, and Sectors 42–58 that have experienced an abnormally steep growth in land prices over the last few years.

Impact on Real Estate Sector

For developers and investors, the step highlights the heightened emphasis of government departments on transparency, regulatory compliance, and tax responsibility in the real estate market. Although the aim is to curb black money and unofficial transactions, the probe also indicates a move toward digitization and traceability in land purchases and sale.

At SKJ Landbase, we feel that this development only adds to the need for clean, lawful, and well-documented property deals. Clients are strongly recommended to

Invest only in projects registered under RERA

Ensure white-money transactions in full

Have proper documentation and registration

Perform due diligence while purchasing land parcels in Wazirabad and surrounding areas

Looking Ahead

This probe could be the precursor for similar action in other high-end real estate markets in India. For honest buyers and ethical builders, it’s a step in the right direction toward creating a more transparent and reliable real estate industry.