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Debasish (Querist) 10 July 2017 This query is : Resolved
Dear Sir.
we are planning for purchasing a land with home. this is a unregistered land & its cost Rs. 32 Lakhs. The seller want full money in cash from us, he doesn't want a single penny in a form of RTGS, NEFT, Cheque or DD.
My father is a retired person & the whole money is white & it is in bank in savings A/C.

Now please advise
1. can we do deal in cash (Rs. 3200000)
2. If we do the deal what are problem may arise
3. Please suggest the way to do the deal.

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Kumar Doab (Expert) 10 July 2017
What exactly you want to convey by posting: The land is not registered.

Kumar Doab (Expert) 10 July 2017
'Buyer Beware' applies to property deals.
It shall be appropriate to get proper legal opinion from a very able local senior counsel of unshakable repute and integrity specializing in revenue/property/civil matters before signing or making payment.
This may cost some FEE but can defend long term interest and hard earned monies.

Kumar Doab (Expert) 10 July 2017
What is the opinion of your own counsel on payment in cash!

Rajendra K Goyal (Expert) 10 July 2017
What is meant by unregistered land?

If the property can not be registered / owner does not have clear marketable title of it, avoid purchasing such land. Your hard earned money would be in risk.

Rajendra K Goyal (Expert) 10 July 2017
Coming to your questions:

1. Such cash transaction is not permitted under IT Act / law.
2. Your money would be in risk. Even he may refuse payment of money.
3. Show all documents to local lawyer and have guidance. You are investing huge amount.

Kumar Doab (Expert) 10 July 2017
Apparently the plot is to fleece hard earned monies of your retired father.
Don't fall into the trap laid.

Consult your own local counsel as already suggested.

Hope you understand and agree.

Guest (Expert) 10 July 2017
The seller is a fraud. No need to think twice. Just avoid this deal and move on.
I'm sure you will get better and genuine offers in the near future.

P. Venu (Expert) 11 July 2017
Yes, what do you mean by unregistered land?

Kumar Doab (Expert) 11 July 2017
Don’t fall into such traps by such unscrupulous persons.

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