Srinivasa Rao Y (Lead) 11 July 2012

Information required for gpa sale

Hello All,

I Srinivas planning to buy property in bangalore, it is a individual house the owner stays in USA, last he has come down to bangalore and did an GPA to her wife and resistered it at sub - resistrar office.

The property value is 52 Lakhs and i am going for a loan with one of the Banks.

I am planning to take 40 Lakhs loan and remaining to pay in Draft/Bankers Cheque. But the owner is telling to pay remaining amount in cash that is 12 Lakhs.

I am wondering can i do that, i think it will go as un counted money(Black Money).

Kindly help me in dealing this situation.

Thanks... srinivas

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1 Replies

Anish Thakur 7018812737 (advocate) 11 July 2012

dear rao

yes you can pay rest amount of 12 lakh in cash also as it is consideration amount not the hidden transaction

you ll be asked by registrar during registry that have you paid amonut and in what form and also by seller wheteher he had received or not the consideration amount