Market value vs registration value of property

Murthy (Querist) 27 March 2013 This query is : Resolved
Can a property be registered on the market value which obviously is higher than the government rate. Under what circumstances that can be done and what will be the implications of such registration. Further can bank loan be obtained on the market value.

Murthy

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Sankaranarayanan (Expert) 27 March 2013
The guide line value is as per prescribed by government and normally use to reg as per that value if any one paid as per market value means paid unnecessery

Devajyoti Barman (Expert) 27 March 2013
In WB the property is registered only on the market value of the property.

Sailesh Kumar Shah (Expert) 28 March 2013
Can a property be registered on the market value which obviously is higher than the government rate.
Answer: Yes

Under what circumstances that can be done and what will be the implications of such registration.
Answer: When market price is actual higher then government/circle rate.

Further can bank loan be obtained on the market value.
Answer: It would be discretion of totally upon bank.

Raj Kumar Makkad (Expert) 30 March 2013
Nothing to add more in the light of replies already provided to you.

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