stamp duty and tax calculation
1 year ago
i am purchasing fully contructed non registered property from seller where seller is transferring it to me directly from builder. builder actual cost was 70 lakh but seller is asking 1cr. builder ll probably do govt registration on 70 lakh. my question is
1. if we do registration on actual cost 70 lakh ..would it be legal, wont govt ask why less stamp duty paid
how s
A.Dear Client
Undervaluing the property in the registration process is illegal and can result in legal consequences. It is advisable to register the property at the fair market value to avoid any legal issues. You may consider engaging the services of a registered valuer to determine the fair market value of the property before registering it. It is important to ensure that all necessary documentation related to the property is in order.Please seek an expert legal advice over this matter.
Undervaluing the property in the registration process is illegal and can result in legal consequences. It is advisable to register the property at the fair market value to avoid any legal issues. You may consider engaging the services of a registered valuer to determine the fair market value of the property before registering it. It is important to ensure that all necessary documentation related to the property is in order.Please seek an expert legal advice over this matter.
Helpful
Helpful
Share
Read Related Answers
Formalities to be done by landlords regarding tenants in Ghaziabad UP
Dear Client,
Few metropolitan cities across the country have made police verification of tenants with local police stations mandatory for the landlord. Cities like Delhi, Bangalore, and Kolkata are a...
Flat Purchase
Dear Client,
In addition to the above, you need to obtain the following documents:
Mother Deed
Building Approval Plan
Sanctioned Plan Copy
Water & Sewage, Pollution, Electricity Approvals
Commencement...
Regarding undivided property
Dear Client,
According to the Hindu Law of Inheritance, the paternal property that is undivided for at least four generations qualifies as an ancestral property and the coparceners have an equal share...
Property - Our share of property
Dear Client,
A property when left by the deceased owner intestate i.e, without any will, is devolved upon the surviving legal heirs in equal share following the law of inheritance/succession. In ca...
Confiscated phone
Dear Client,
If a school is generally follows the CBSC rules strictly in all aspects then it might not be possible to recover your device back. Talk to the management authority and write a handwritten...
Read Blogs on Property
Property Lawyers
Find Lawyers by Location
