registering property higher than purchasing


recently I observed a friend purchasing agricultural land

Made an agreement of 26 Lakh

After 3 month registered for 42 Lakh stating market value is high...

But actually Buyer paid only 26 Lakh to seller, where as guidance value as on date is 10 lakh only...

What is the logic of registering(42 Lakh) by buyer higher value than what they paid (26 Lakh) , even when guidance value is much lower(10Lakh)...

Any one registers ,the purchase value is not considered that govt fixes that registration value to register it may be more or less then purchased value. Ex if u purchase a site for 5laks if govt fix that area sites to register for 4laks then u have to register it for that amount only.i.e registration value differs from market value.


Ji, as per Market Value System, the stamp duty & Registration fee shall be paid on the consideration (actual purchasing value) or Market Value as per Guidelines fixed whichever is higher.  the Value shall be taken as on the date of presentation of the document.


This type of transaction is create black money to meet any other expenses which they can not account.



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