I am considering buying a property on Bangalore for which I have executed a Sale Agreement for the full consideration. Now my problem is as under
1. While the sale Consideration is Rs. X, the government guideline value in only Rs. X/2. I want to register the property only at the guideline value not the actual sale price. can this be done?
2. I am advised to show the difference amount between Sale Vlaue & Guideline Value in the for of a "Development Agreement" with the seller. Is this a normal practice?
3. The seller is reluctant to show a lower registration value saying he will have Long Term Capital Gains problem. Is this true?
Help rendered is greatly appreicated.
