Sale registration fees

Anand (Querist) 17 December 2011 This query is : Resolved
Dear Adviser,

I am buying land in Hyderabad which belongs to my cousin. We have mutually agreed on price, terms & conditions of the sale. Market value of the property as per the relevant SRO is 5 times higher the price that me & my cousin agreed. Do I have to pay the sale registration charges @ 7.5% on the mutually agreed value or market value quoted by SRO. I am fair in my transaction & I am not duping anyone in this including myself, my cousin & state govt.

Your comments are highl appreciated!

Thanks in advance

Regards,

NN

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Naresh Kudal (Expert) 17 December 2011
Registration value will be according to rates ascertained by state govt. and registration charges also will according to that value but if your consideration amount is higher then govt. value you need to pay reg. charges on real consideration.

Raj Kumar Makkad (Expert) 17 December 2011
All collectors have fixed minimum rates for each area under its administration for the purpose of registration so you enquire and pay stamp duty accordingly.

Guest (Expert) 17 December 2011
you can go with ur conscience. you are help the nation to build stronger. pay the stamp duty and registration fees as per your agreed amount.

V R SHROFF (Expert) 17 December 2011
Whichever is MORE.
market value quoted by SRO or
What you paid, ie consideration.

Nadeem Qureshi (Expert) 18 December 2011
I agree with above Ld. Friends

Devajyoti Barman (Expert) 18 December 2011
Consult the local Registration Office. Generally specially in WB , the stamp duty is assessed on the market price of the property. The market price is also determined by the Registration Office.