Misinformation to registrar for undervaluing of market value
Querist :
Anonymous
(Querist) 30 September 2011
This query is : Resolved
please treat this as withdrawn
R.Ramachandran
(Expert) 30 September 2011
The Registrar will only re-assess the market value as per the new facts. That is all.
Sailesh Kumar Shah
(Expert) 30 September 2011
Registrar impound that document, it will send to the collector.you have to pay difference stamp duty.The collector have power to impose upto 10 times penalty.
Guest
(Expert) 30 September 2011
Agree with experts.
prabhakar singh
(Expert) 30 September 2011
At the stage the document is the registrar may call on the party to make good the deficiency or may impound the deed and sent to collector in charge of stamps for penalty proceedings.
Querist :
Anonymous
(Querist) 30 September 2011
there has been suppression of facts as to undervalue, can someone just run scot free by paying the deficient duty.
no penalty?
this would encourage others to try first and pay only when it fails.
R.Ramachandran
(Expert) 30 September 2011
Dear Anonymous,
After all he has effected conveyance of the property. The sale deed will indicate the consideration. The stamp duty would be paid on the consideration declared in the sale deed. If the sale consideration is less than the Circle/Area rate fixed by the government that the stamp duty would be paid on that value.
Thus, whether the building is marble floored or mosaic etc., have no bearing on the stamp duty.
Querist :
Anonymous
(Querist) 30 September 2011
Dear sir,
property valuation rules MVMR as per stamp manual depends upon location, on road, width of road, size of plot, age, construction type, usage- comm / resi / semi, flooring, lift, other amenities- club house, community hall, gym, swimming pool etc.
how can u say that it has no bearing.
all i am asking is impounding / cancellation - suo-moto or you need to initiate
