sarojsagay (association) 27 October 2015

Guideline value

My father has a property in Tamil Nadu he wishes to sell. But the potential buyers are offering him half the sum of the Guideline Value through bank transactions and the rest in cash. We live abroad and we don't want any cash. The only person who is ok to buy only through a bank transaction has offered us the exact amount of the guideline value, which is lower than the market value.

What would be your advice ? Is it ok to put the cash on a bank account and ask for the repatriation abroad through the bank? Or will this create other problems?

Thanks

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3 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 27 October 2015

market value only will consider by the sub-registrar for valuation of staps at the time of registration on sale deeds.

sarojsagay (association) 27 October 2015

Excuse me Sir, I don't understand. Do you mean that it doesn' matter if the money comes in cash or by bank ? If so, why is the price so different ?

Thanks

naveenraj jain (proprietor) 29 October 2015

Buying of property at guidance value at rates prescribed by the govt can be paid to the seller by cheques or by way of cash. The recitals of mode of payment should be recorded in the sale deed for better clarity. If you feel the market value is more than the guidance value then you should do a reality check and ascertain the rates for yourself and save yourself from people taking undue advantage. Definitely any property market value is more than the guidance value.