Hi,
I'm in talks with a seller of a land in my town that I'm interested to buy. The guideline value for that property is around 7L, but the market value is almost 4xGV (around 28L). I want to buy the property with full white money even if it costs more stamp duty, but the seller is not ready to register the sale at the market value. He wants to register at the GV so that he can save on his capital gains. Unfortunately, the sub-registrar is also not that co-operative in registering the land at the market value. He also hints at registering at a lower value as almost every transaction happens only that way. I hate the fact that even govt officials are not helping people to follow the rules. Now I'm in a dilemma on whether to forego this sale or buy it at the market value but register at GV. If I go with latter option, I will have to find ways to convert my white into black now and face some consequences in future when I sell the land. Now that govt is streamlining lot of policies, I suppose all registration will happen at the actual transaction value in the future. If thats the case, then I'll be in trouble.
Need some advice on how common is it carry out such transaction and how people are dealing with it.
