Hi experts,
I am buying a property in Bangalore east BDA layout where the govt has fixed a guideline value of Rs.4000 per sqft. The seller is in need of money and is willing to sell the land to me for Rs.3200 per sqft. All verifications are done and papers are clear. Now the sale consideration is only 38,40,0000/- where as the govt value is Rs. 48,00,000/-. So govt value is higher by about 10 lakhs. My advocate suggest that I can mention the actual sale consideration of Rs. 38,40,000 in the sale deed but I need to pay the registration charges for govt value of Rs.48,00,000.
My question is:
1. Will there be any issue if I show 38,40,000 in the sale deed and pay registration charges for 48,00,000/-. I mean from IT dept or any other authorities?
2. Dont you experts think that the situation in Q1 is a real trouble to the public by the govt? The seller wants less, govt want more!
2. Is there any other option to register the property for the actual value of 38,40,000/- (below govt value) and save the registration charges by 66,000/-?
Awaiting your valuable feedbacks,
Thanks,
