LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
The Indian Constitution Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

RAGHUNATH G L (ASSISTANT MANAGER)     11 August 2019

Registering Property higher than purchasing

Sir,
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)...


Learning

 3 Replies

Shashi Dhara   11 August 2019

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.

kavksatyanarayana (subregistrar/supdt.(retired))     11 August 2019

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.

r.sathyanarayanan   12 August 2019

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

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query