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Mismatch in amount of property in sale deed and sale agreement
20-May-2023 (In Property Law)
Hi Could you please suggest. ->Initially the property value was 46L at time of sale agreement and based on it I took a loan of 35L from Bank. ->At the time of final sale deed at registrar office, the price mentioned was 32L only and they mentioned cheque no of loan amount which I took i.e. 35L. Have I gave any black money to the builder in form of white money and in this case what should I do. Which value should I show while applying for tax return 46L or 32L? Thank you in advance.
Sir,
It you have mentioned that 46 L is agreed as per agreement of Sale. So please go to the office and confirm that present Market Value of the property. You can challenge the agreement of Sale if there is variation found.
Apart from that you should ask your seller what it is actual amount. Giving of Black Money is left to you that is the matter of negotiation of Sale.
The amount should be payable as per Agreement of Sale Only. Because it only reflects that Total Consideration. The payment in part amount and the balance sale consideration.
Please issue a notice to builder and ask him to clarify the defects in the sale deed with regard to total consideration of the value of the property. Please note dont do Orel discussion because it is the matter of records. please do all correspondence by way of letter only.
It you have mentioned that 46 L is agreed as per agreement of Sale. So please go to the office and confirm that present Market Value of the property. You can challenge the agreement of Sale if there is variation found.
Apart from that you should ask your seller what it is actual amount. Giving of Black Money is left to you that is the matter of negotiation of Sale.
The amount should be payable as per Agreement of Sale Only. Because it only reflects that Total Consideration. The payment in part amount and the balance sale consideration.
Please issue a notice to builder and ask him to clarify the defects in the sale deed with regard to total consideration of the value of the property. Please note dont do Orel discussion because it is the matter of records. please do all correspondence by way of letter only.
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Adv. M Lakshmikanth Arya
Bangalore | 500+ Answers
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