Property regisration & it
Chandrika Subramaniyan
(Querist) 01 December 2013
This query is : Resolved
This is a question based on my learnings on Sale of a property.
Seller and Buyer want to report the full value of sale on registration. But I understand that the registration value would only be determined by the property registration department based on the guideline value plus the age of the building and/or may be the amenities and premium location . This may bring the registration value of the property lower than sale value. The difference seems to create an avenue for unaacountable moneys.
What then may be a solution if one wants to be transparent ?
The Centre seem to want to stop this unaccountability where as the State Departments seem to have their own reason to do what they do.
Grateful for any observations on this. Would certainly be a learning experience on the subject,
Thanks…CS
ajay sethi
(Expert) 01 December 2013
you can report full sale value of trnasaction . it can be more than ready reckoner rates . full payment can be made to seller by cheque . no need to pay in cash
Rajendra K Goyal
(Expert) 01 December 2013
Pay full value by cheque, if the value of dealing is above 50 lacs, deduct TDS and deposit, pay full stamp fee.
malipeddi jaggarao
(Expert) 03 December 2013
In addition to the above views, in the recital of the document, you can mention the Government value and sale consideration and you can pay the stamp duty on the higher value.
