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Real Estate

property selling

I am going to sell property to 25lakh to one person. they given 10Lakh in advance.All of them are mentioned in sale agreement. The purchaser is requested to reconstruction the house with out registering in his name. if purchaser shows the another person to registered the property to 40 lakh is it affect the seller? The seller can pay more capital gain tax? can seller get the capital gain amount to buyer and how much amount?

1 month ago

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A.
Dear Client,
The proposal of the prospective buyer is not acceptable and maintainable. Until and unless the property is registered in favour of the prospective buyer he can neither take possession of the property nor carry out any construction on the property and cannot offer that property for sale to others without being an owner of the said property, Moreover, the seller has to pay more tax on capital gains if the agreed value of the property as appears in the sale agreement differs from the value shown for the registration of sale deed. On the whole, the proposal of the buyer is not acceptable at all.
S. K. Dutta
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