Registration of a property at guidance value versus market value
Pushpa
(Querist) 26 September 2016
This query is : Resolved
Hello all,
I have this issue with selling a property. Guidance value of a property is always less than market value. I always have the problem with this. The buyer doesn't want to register at more than guidance value. Now I will be taking the market price for which he will not be ready to register. I will not take cash. If he gives in cheque or DD also what will show that as. That money cannot be shown as source of income from property if it is not mentioned in the registration document.
If the property is registered at a market price of say Rs. 1 Crore then registration cost will be Rs. 6 lakhs at 6%. Now if the guidance value is say half of that they one would like to register at Rs. 3 lakhs. As a seller I want to sell at market price and register the same at Rs. 1 crore. How to deal with buyer to convince that legally he/she should register at market price is a problem for me. Any solution for this issue will be highly appreciated.
Thank you all in advance for your time help and advice.
Regards,
Pushpa
Raj Kumar Makkad
(Expert) 26 September 2016
This is not a legal query. Trace out such buyer from the market who may come to your conditions.
We can not do any help in this process.
Rajendra K Goyal
(Expert) 26 September 2016
Find out the purchaser who is ready to get the registration documents at Market price.
Law does not permit to take black money in property sale dealings.
Kumar Doab
(Expert) 26 September 2016
"I will not take cash. If he gives in cheque or DD also what will show that as. "
Mention instrument number.
Off the record; agree to reduce the cost by difference.
Or find another buyer as already suggested by Mr. Makkad,Mr.Goyal.
Kumar Doab
(Expert) 26 September 2016
Repeated Query;
http://www.lawyersclubindia.com/forum/Registration-at-guidance-value-or-market-value-142568.asp
Pushpa
(Querist) 26 September 2016
Hello all,
Thank you all for your valueable inputs. I am not planning to take cash. I saw some article on the internet which my buyer showed me. I have given the link below.
http://www.nitinbhatia.in/real-estate/how-to-save-stamp-duty-registration-charges/
That prompted me to raise this question. Thank you all.
Regards,
Pushpa
Raj Kumar Makkad
(Expert) 26 September 2016
Even then you should have posted it in different threads.
Kumar Doab
(Expert) 27 September 2016
Hope you are satisfied that you are properly and thoroughly advised.
Kumar Doab
(Expert) 27 September 2016
The author has thanked the contributors in other thread.
You are welcome.
Raj Kumar Makkad
(Expert) 28 September 2016
If he has thanked then we heartedly accept and reciprocate it.
