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What is the legal procedure to purchase agricultural land
30-Nov-2023 (In Property Law)
Want to purchase an agricultural land property at a lower price than the circle rates after negotiations with the seller,and I am ready to pay the full stamp duty and registration fee as per government circle rates ,is it possible to buy it.
yes you can buy the property at lower than the circle rates. however you will be required to pay the registration fees and stamp duty at the circle rate valuation only. Besides you might also be required to justify the sale to the income tax dept as they might question you as to how you managed to buy a property at less than the circle rate. the income tax dept will presume that you paid for the deal in cash/unaccounted/black money. you should take utmost care in preparing your sale deed and all other documents.
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