Land Registry under NCLT auction
Querist :
Anonymous
(Querist) 26 March 2019
This query is : Resolved
I have recently bought assets including industrial land, building and machinery under NCLT auction. The value of the auction was Rs. 8 crore and I have made the full payment.
NCLT officer issued me 2 sales certificates, one for land and building (immovable assets) for 3 Cr and another for machine for 5 Cr. These were done based on the vluation reports done by NCLt before auction. I have paid the GST amount on the machine value of Rs. 5 Cr seprately.
Now I wish to do my land registry. However the registrar is asking for stamp duty on full vale if auction i.e. 8 cr and not on the Rs. 3 cr for which the sale certicate has been issued.
Is this correct as registry should be only on land and building value and not on machinery.
Plz advice.
kavksatyanarayana
(Expert) 01 April 2019
Dear queriest, where is the property situated? You purchase the property in auction.Then how did they give you sale certificate. I think they have given only a certificate informing that you have purchased the property in their auction for the amount of Rs.8 crore. In most of States, the Market Value scheme is implemented and under that scheme certain government orders and some executive instructions have been issued regarding the government/tribunal auctions values. so obtain the information by using RTI.
