Property registration and the sellers responsibility

I intend to sell my apartment for Rs.2 crores and the buyer is offering cash of Rs.60 lacs and the balance in cheque and agrees to register the property for 1.4 crores. I will remit the cash of 60 lacs into  my bank account and declare as sale proceeds and calculate capital gain on total sale value of 2 crores and pay Capital gain tax on the total sale value of Rs.2 crores after indexation. Am I complying with all legal  formalities? The registration department has agreed to  register the flat for  Rs.1.40 crores as per the guideline value of Govt. As a seller Will I encounter any problem with Registration department. Can any one clarify this 

Thanks