Yogesh Ranga (Service in PSU) 17 May 2010
Respected members,
I entered into an Agreement for Sale for purchase of second sale property in Chennai which is about 15 years old at a Sale consideration of Rs. 40 lakhs. However, the present Guideline value is about Rs. 2000 and consequently the value is said to be approx. Rs. 25 lakhs. Can I register the Sale Deed for Rs. 25 lakhs or do I have to perforce register it for Rs. 40 lakhs? Can somebody enlighten me on this? Shall be grateful. Regards
yog108@in.com
A V Vishal (Advocate) 17 May 2010
You can register the document @ 25 lacs viz. the guideline value.
Swaroop Godbole (advocate) 20 May 2010
actually i do not know the stamp act applicable in chennai.
but normaly as in Bombay Stamp Act, law says that in case conveyance agreements of property, the stamp duty payable is "government valuation" OR "consideration in agreement" whichever is higher.
Neha Shah (Asst. Manager - Legal) 25 May 2010
In my opinion it should be on higher value
Abhishek Bansal (ADVOCATE) 26 May 2010
According to UP stamp Act, it should be registered on circle rate, so you can get it registered at 25 lacs only.
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
