Upper limit on sale price of land?

Guest (Querist) 10 September 2016 This query is : Resolved
Hello experts:

My grandfather died recently and we are planning to sell the land in which his house was built in 1960 (630 sqyards). It is inherited equally among his four children. We enquired that land is worth about Rs.6 crores at present.

Thanks!

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Kumar Doab (Expert) 10 September 2016
You have although posted one answer in last para..................

The circle rate or revenue rate is the min at which duties are calculated.

You have to find your buyer on your own or the thru property dealing establishments.

Guest (Querist) 10 September 2016
I didn't understand. Could you please clarify if there is a maximum limit for the sale price?

Raj Kumar Makkad (Expert) 10 September 2016
There is no maximum limit. Municipality or any other authority has never put any cap over the maximum sale-price. If taax is paid, there is no hurdle in registering the same, however, find out good buyers as you desire at your own.

Guest (Querist) 11 September 2016
Thank you Mr. Doab and Mr. Makkad.

Kumar Doab (Expert) 11 September 2016
The govt may impose duty on prevailing circle rate or revenue rate, even if someone inserts purchase price lower than it................

The seller can sell above circle rate or revenue rate...............and buyer can buy above circle rate or revenue rate.

Duty shall be calculated on sale/purchase price in such case.