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Need information on consideration value to be mentioned in sale deed
11-Jun-2023 (In Documentation Law)
The sale agreement for a 2BHK re-sale flat was made for a consideration value of Rs. 36 Lakhs. The above sale agreemnt was provided to the bank (SBI) for loan application and the loan is sanctioned for Rs. 20 Lakhs. Rest of the amount is from my savings. The guideline value of the property (i.e. UDS and the flat with amenities) works out to approximately Rs. 18.5 Lakhs. Is it possible to register the property with a sale amount less than Rs. 36 Lakhs in the sale deed and with a value more than the guideline estimate? Will both the registrars office and the bank accept the same? Is there any legal issues anticipated?
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Adv. Suchit Palande
Chennai | 200+ Answers
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