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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
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Adv. Shrijan Shukla
Raipur | 50+ Answers
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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.
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Adv. Prasun Goyal
Surajpur | 25+ Answers
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