Property agreement with old value of property

Vijen (Querist) 30 April 2014 This query is : Resolved
Can a Property agreement be made with an old value of property which is not inline with the current market rate?

What would be the liability of the Seller from the Property / IT tax point of view?

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ajay sethi (Expert) 30 April 2014
what is ready reckoner rate ? it has to be stamped as per ready reckoner rate in Mumbai

Vijen (Querist) 30 April 2014
The stamping would be done as per the ready reckoner rate, which is fine.

Although can an agreement be made with an old value of property and would be the liability of the seller from the point of view of property / IT tax?

ajay sethi (Expert) 30 April 2014
you can show any value you want but as mentioned earlier pay stamp duty as per ready reckoner rates

Rajendra K Goyal (Expert) 30 April 2014
Academic query.

Sankaranarayanan (Expert) 30 April 2014
what is your exact query .

Raj Kumar Makkad (Expert) 01 May 2014
Registrar has nothing to do with the actual consideration but the property cannot be registered without mentioning therein the collector rates fixed by collector at the relevant time.

Devajyoti Barman (Expert) 01 May 2014
agree with experts.....

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