Perhaps some Indian commentators don't understand it on purpose so here goes. Private Property is that which is used to generate profits, like factories, land, etc. Personal property is what you use for consumption. So, yes, private property should belong to society not personal.

Private property is Capital. Capital is created from Accumulated profits or surplus. Profits are created when revenue from Sale is greater than cost of labour. The key here is that nowhere has the Capitalist put his own labor to use. All Capital is the exploitation of labor.

Nationalising of Private Property (Only in a Socialist or Worker's State) means that all the means of productive power is governed by the State which is run by the Working Class and not the minority Capitalists.

But, this doesn't mean that all the profits post Nationalisation are kept in a Govt bank account. All profits fund the Govt budget. The Govt budget is guided by the following principles: Full employment as a fundamental right, Free housing to all, Free healthcare, and Fair wages.

An incidental effect of this is that Workers have more Money in hand because most costs like rent, health and transport are free or miniscule. Wages this don't rise exponentially making Communist economies the go to place for Production- like in China or Vietnam.

Another effect is also that education is free to the highest levels. For free education, your duty is to serve society because your employment is also guaranteed. You thus pursue what you love to do and don't die paying back student loans. You feel obligated to pay back.

Free housing also has an effect. No slums, no discrimination, no ghettoisation, and dignity of life knowing that you will always have a roof over your head. And when you're too old to work, the State takes care of all your needs till death for your labour contributed in youth.

All these above things are an anathema to free market countries because a Workers state, economically, can destroy the Capitalist system. Thus, Communist countries from Cuba to the DPRK, are sanctioned because they MUST not survive. The rich forbid the working class life itself.

Another important piece to mention is self reliance. A Communist economy bases itself on being self reliant and never beholden for the basics on the global market. That's why countries like North Korea despite being heavily sanctioned can stand on its own. Cuba to some extent too

Communist economic planning is based on five year plans and targets for the economy and the people and how to achieve them. A project plan for the country. That's why illiteracy, starvation deaths, homelessness is unheard of in Communist countries. These are part of the plan.

So to end... The only people who have to be afraid of Communism and socialism are those that have robbed, exploited and devastated the Working Class with unemployment, lower and lower wages, and enacting wage slavery. You, the majority working class, will prosper.