How to indemnify the market vluae from the Vendor?
BAALASUBRAMANNYAMM
(Querist) 16 December 2010
This query is : Resolved
Respected Experts,
Plz. Clarify my doubt.
I purchased some lands for Rs.10 Lakhs (Market value) and whereas the Government value is only Rs 60,000/- and accordingly I have shown the value of the land is Rs.60,000/- in the Registered Sale Deed. It is mentioned in the Sale Deed, that “ the vendor has to indemnify the liability to the extent of Rs.60,000/- in case of any defect of title or what so ever”.In such a case, if I want to recover Rs.10 Lakhs as damages or etc., what I have to do.
Pritam Saini, Advocate
(Expert) 16 December 2010
there is presumption of registered document unless conteray proved.
R.Ramachandran
(Expert) 16 December 2010
You will not be able to recover more than Rs. 60000/- which was the market value shown in the Sale Deed. If you had wanted to get the whole of Rs. 10 lakhs indemnified then you should have got the property registered for such a consideration and paid the requisite stamp duty thereon. Since you have not done so, you will not be able to get indemnification for the difference i.e. Rs. 9.4 lakhs.
BAALASUBRAMANNYAMM
(Querist) 16 December 2010
Respected Ramachandran Sir,
Thanks. My doubt is clarified now.
