Property registration for market value

Pradeep (Querist) 08 March 2024 This query is : Resolved
Hello, we've been attempting to sell our land in our hometown near Chennai, in Tiruvallur district. While the guideline value of the land is around 15 lakhs, the market value is approximately 70 lakhs. About 5-6 months ago, the buyer provided an advance of 50,000 rupees in cash and transferred 4.5 lakhs to my Mom's account, despite the land being in my Dad's name. No formal agreement was made with the buyer. They initially agreed to complete the registration process within a month but ceased communication for 2-3 months. Upon returning, they requested the land at the same price. However, I offered to refund their advance, as their lack of communication disrupted our plans. Recently, they falsely claimed to have paid us 6.5 lakhs (4.5 lakhs via transfer and 2 lakhs in cash) in an advocate notice. We're concerned about potential issues they might cause. We're willing to refund their advance, but they're refusing to accept it and not providing their account details. They're now proposing a registration only for the guideline value of 15 lakhs, with the rest in cash, which we find risky and unethical. I'm seeking advice on how to proceed. Should I respond to their notice? We have no formal agreement with them, yet their notice suggests otherwise.

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This discussion concerns a property sale near Chennai where the market value (70 lakhs) significantly exceeds the guideline value (15 lakhs). The seller received an advance payment but the buyer later ceased communication. Now, the buyer is demanding registration at the guideline value with the remainder in cash, which the seller deems risky. The seller is also dealing with a false claim of a higher payment via an advocate's notice and is seeking guidance on how to respond and resolve the situation, including refunding the advance.

T. Kalaiselvan, Advocate (Expert) 08 March 2024
It becomes your duty to issue a reply notice to their legal notice denying their allegations made vide their legal notice served on you.
You can challenge them to prove their case.
You may consult an advocate and proceed as suggested.

Advocate Bhartesh goyal (Expert) 09 March 2024
Yes, you should reply notice and deny allegations.Consult to local lawyer for proper advice.

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