Dipangkar (Business) 13 June 2011
Is it illegal to sale a perticular lands above the value fixed by the Govt ?
Govt value of land X is Rs.10 Lakhs per Bigha.
Seller sold X at Rs.80 Lakhs per bigha, showing in the Govt Regd only the Rs.10 lakh value.
1/ If proved, What are the sections the seller will be punished for his crime ?
2/ Any way or idea to prove his Offence ?
3/ Is it only the seller who cheated the Revinue, or is it the buyer who has commited the offence and is punishable as well ?
Bharatkumar (ADVOCATE ) 13 June 2011
Sub-Registrar check a land / property rate of Government if the rate of land / property higher then government rate so the purchaser will be pay stamp duty as per rate they have consideration in sale deed and if the rate is lower then government rate they will be pay stamp duty as per rate of Government. The rate will be decided by both party and both party know the market value of the property so it's not cheate.
Dipangkar (Business) 13 June 2011
Thank you Bharatkumar, for providing your time & valuable reply.
In my above queary,
In the sale deed They paid stamp duty of Land X @Rs.10 lakhs per Bigha, while in Practical they sold the land @Rs. 80 Lakh per Bigha.
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