I-T dept buys real estate worth Rs 2,500 cr in one yr

 The Income Tax Department became one of the largest purchasers of real estate properties last year as it embarked on a mega expansion spree to spread its establishment for enhancing taxpayer services in the country.

The department, which has recently begun a special drive to check prevalence of black money in the country's real estate sector, has acquired high-worth properties worth about Rs 2,500 crore in more than 20 cities in the last year alone.

The largest acquisition by the department has been at the cost of more than Rs 2,000 crore for the purchase of office space in the civic centre near the national capital's marketing hub, Connaught Place. The civic centre is the tallest building in Delhi.

The department has similarly purchased 56 staff quarters worth more than Rs 89 crore at the pricey Bandra-Kurla complex in Mumbai.