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Property laws in India are comparable to many developed countries with some flexibility for community specific needs. A Government agency, usually a Registrar Office, acts as an intermediary for property registration and transfer of rights.While Property registration process has evolved over recent years, especially with digitization of property registration process in many states, implementation of these laws have left a lot to be desired.The biggest challenge in property registration is the valuation of the property itself. Currently, this is governed with a set of boundary policies like guideline value for a location. However, these policies usually lag the market significantly both in terms of time to effect and valuation itself. Quite often they are not efficient market indicators.Grey economy in Property marketThe gap in property valuation allows a serious misappropriation which Weight Loss Tips result in huge revenue loss to the government. In addition, this also generates black money that fuels grey economy.A person selling property misusing these laws would accumulate black money and it can only be used against another such transaction that requires it. We can imagine how this has led to a huge grey market economy in India. We also know that this grey market is both inefficient in use of resources and also harmful to the society. It is inefficient because the money, when not deployed, usually stays in the form of cash which has least efficient economic utility. It is harmful since this cash may be deployed in socially unacceptable opportunities.Reforms to address gaps in governanceThe main issue in property regulations is RIGHT valuation of the property. This will not only generate more income to the government, but also decreases the motives for grey market transactions.