Registration value issues (Civil Law)

This query is : Open

Author : sembaianathan.k

PRO CHAT CALL

Posted On 29 July 2012 at 23:42

Dear Sir/Madam,

we(seller) have made sale agreement of our ancestral property one year back (residential area) in Tamil Nadu. Due to various issues not able to register it. In the mean time the GLR value of site got increased to 3 fold more the agreement value. Now if we are selling it as per our agreement, can the purchaser buy stamp duty as per present GLR and get mentioned in the registration document the only agreement value?
Next even if we are allowed to do like that, whether tax deduction for capital income will be calculated for the registered value or the agreement value( as our agreement value is 3 times less than the present GLR, if tax calculated for registered value we would be paying the whole transaction amount to tax only)