LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

paras jain   12 November 2024

Registration at original agreement value or at assignment agreement value

Hi,

I am planning to buy a resale under construction property. Flat is due to be delivered in another year, but the current owner wants to sell it for a profit.

For a scenario, lets suppose he has bought the property at 1 Cr and now selling at 1.5Cr.

The Value in the Assignment Agreement is 1.5Cr, but builder is adamant on registering the property at 1Cr only.

If i buy the property and get it registered for 1 Cr only , later when i want to sell it, will my original buying price be 1.5Cr or 1Cr ?All the transactions are bank transfers/loan.

 Wanted to check if assignment agreement is enough a  document for taxation purposes .



Learning

 2 Replies

T. Kalaiselvan, Advocate (Advocate)     12 November 2024

You can decide whether to get the sale deed registered at the original value or the value informed by the seller.The builder will not agree to register @the rate informed by seller, because he is not benefited by the difference amount.

At the time of selling the price will be appreciated hence you can think about the pros and cons and take a decision

kavksatyanarayana (subregistrar/supdt.(retired))     12 November 2024

You are buying the property with higher value, go for registration at higher value only but not as said by the builder or owner.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register