Sale
hitesh
(Querist) 29 December 2010
This query is : Resolved
If some one want to transfer its property at less then its stamp value, For example if some one want to transfer its property @ Rs.1 Lakhs but it has stamp value Rs. 90 lakhs. Now the question is:-
a. what is the amount that will be taken in sale deed as sale consideration (i) Rs. 1 lakh i.e. actual consideration or (ii)Rs. 90 lakhs i.e value for stamp duty purpose.
b. for all legal purpose purchase consideration on point of view of purchaser will be Rs. 1 lakh + stamp duty on 90 lakhs or anythink else.
Devajyoti Barman
(Expert) 29 December 2010
It differs from state to state . In West Bengal without the secified stamp duty the deed would not be even prersented for registration.
hitesh
(Querist) 04 January 2011
NO it is not the question, the question is what will be the amount taken in the deed as sale consideration Rs. 1 Lakh or Rs 90 Lakhs
R.Ramachandran
(Expert) 04 January 2011
Dear Mr. Hitesh,
Whatever the actual consideration that you claim and receive would be shown in the Sale Deed.
However, for the purpose of levy of Stamp Duty, the prevailing Government rate or the actual sale consideration whichever is more would be adopted.
