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~~~~~Rahim (Entrepreneur)     16 November 2010

Is this need in a Purchase Transaction?

I have purchased a flat consideration of Rs 15 Lakh and while preparing the Sale Deed Government Value was Rs 17 Lakh, which was mentioned in the Sale Deed.

Now the Deed has been registered and Stamp Duty have been paid and all formalities have been done,

Now the seller inssisings me to give a written confirmation that I have paid Rs 14 lakh and not Government Value of Rs 17 Lakh, in a Stamped paper.

I want to know whether this is important and must be done on my part? This formality has come for the first time while doing purchase/sale transactions.

I beleive and y lawyer too agrees that since consideration is written in Sale Deed itself, there is no need to provide additional confirmation which is demanded by the seller.


 2 Replies

Mugundhan (Lawyer)     16 November 2010

Since the sale consideration and market value are all mentioned in the sale deed, no need for a sepearte confirmation.  u can give the photocopy of the sale deed to ur seller so that it would be useful for him to file returns.

2 Like

~~~~~Rahim (Entrepreneur)     16 November 2010

Thanks sir for clearing the confusion and what was even more surprising was that the Seller's lawyer himself demanded such a formality.

If he persist, should I give in to his pressure? WIll it make any difference if I confirm the consideration on a separate Stamp Paper and give it to the stupid seller?

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