671+ Lawyers are online 
Which price will be considered for registry owner or government
17-Jun-2023 (In Property Law)
If a X land is worth 40 lakhs according to govt and owner is selling it for 11 Lakhs. What is the actual process for registry? Do i Need to pay only registration fee for 40 lakhs or I need to pay 40 lakhs towards purchasing the land ?
You need to pay on the stamp duty on Rs. 40,00,000. Because the government rate fixed is for the valuation of the base price but the stamp duty is paid on the higher value only. If you have paid the price of the X land less than 11 lacks then the stamp needs to be paid on 11 lacks
Helpful?
Adv. Shrijan Shukla
Raipur | 100+ Answers
CONTACT NOW
You can pay elevan lack to purchasing the land for owner but stamp duty and registration fee will be calculated in government rate which is forty lack. And second you will face the problem in income tax department also.
Helpful?
Adv. Prasun Goyal
Surajpur | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
