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Registering sale deed in subregistrar office

(Querist) 12 January 2013 This query is : Resolved 
I have enter into agreement with the builder [agreement to sale]to purchase a property whose total cost excl. reg.is 60L. The agreement to sale is registered and have paid 0.1% stamp duty on it. same agreement is now submitted to bank for availing loan.
now the bank officials are saying to get the sale deed registered as per guideline rate and not the actual rate.
Is this practice ok.
Please guide me.

Thanks and Regards,
Nadeem Qureshi (Expert) 12 January 2013
It's depend on the bank policy, read the terms and condition carefully.
ajay sethi (Expert) 12 January 2013
what is the difference between guideline rate and actual rate . the guideline rate is for prupose of payment of stamp duty . if the difference is not substantil it should not make much of a differnce .

if the bank refuses to sanction loan because guideline rate or ready recknoer rate is not mentioned in agreement then approach another bbank of loan

inform the builder why bank is refusing to sanction loan . let him come out with a workable solution
rajsh (Querist) 12 January 2013
sir the difference is around 50%
S. Bharath (Expert) 12 January 2013
Mr. Ajay Sethi is right. Guideline value is only to prevent undervaluation and consequent loss of stamp duty to the exchequer. By insisting on registering at a guideline value which is much higher than market value, does the bank indicate that it is willing to lend more money against a property which costs less?
Raj Kumar Makkad (Expert) 14 January 2013
Nothing to add more in the laready given opinion.


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