vinu (na) 03 November 2010

Reporting undervalued registration

I sold a property but the whole value was not shown in documents because the buyer insisted on that. Now that government is cracking down on this in kerala; how can i report this and get out of any issues that may come. Vinu

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1 Replies

R.Ramachandran (Advocate) 03 November 2010

Dear Vinu,

You have sold the property. According to you, the property has been sold only to the value mentioned in the document. YOU CANNOT CHANGE THIS FIGURE NOW. YOU SHOULD ALWAYS MAINTAIN THAT YOU SOLD ONLY FOR THAT MONEY AND YOU DID NOT GET ANY MONEY EXTRA.

However, if the Government insists that the stamp duty has to be paid on higher value (as fixed by the Government), then it is for the buyer to pay the extra stamp duty. You have nothing to worry.