Chennai land registration at market value

Dear Sir,

Registrar will not deny to register the property at high value.

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

You can refer the below article for better understanding

http://www.thehindu.com/todays-paper/tp-business/Sale-price-exceeds-guideline-value-mdash-how-is-it-accounted/article15950533.ece

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

In most cases govt guildline is less than Sale/Puchases value so if we are registering document/ deed For above govt value there is nothing wrong in it as we are paying stamp duty on higher value and registrar can't oppose because the ulimate work of registrar is to see whether stamp duty collection is correct or not, in present case the stamp duty to be paid will be higher so there will be no issue at all.

Regards

CA Mahendra Chaudhary

Hi,

I suggest you to go and check with the Registrar directly. Don't listen to any Rumours.

Why will a sub-registrar refuse additional revenue to the Govt? Stamp Duty and Registration Charges are payable on the Guideline Value or Sale Consideration, whichever is higher.

No it is not the case. You can specify that you have made some specific modifications to fetch higher value. In Hyderabad there is no such conditions.

If in any circumstances the Registrar refuses, then do registration at guideline value and remaining amount pay by cheque to the seller. In IT Filing both can mention the total value i.e. Registration value as well as the extra amount paid and pay tax on the same.

No, you can always register the sale deed higher than guideline value.

It has to be at the actual sales value only and on the same value property should be accounted for in both the books i.e. Purchase & Seller

hi,

it is always better to pay the stamp duty on higher value, ie if the sale value is more than the circle rate or guidance value. as it is easy to disclose so the source of income for seller and it also help the buyer to resell the property in future by claiming capital gain at actual purchase price.

here is the article for your reference:

http://www.livemint.com/Money/lnfSfJ7qZ7bc5T48k7TdrK/DYK-Capital-gain-is-computed-based-on-stamp-duty-value.html

registrar would not going to have any objection to register it at higher value as the buyer is buying at higher value .

Hi

You can register your agreement by stating the full value of consideration i.e. the market value.

As per registration and stamp duty laws, stamp duty is payable on the sale consideration or the guideline value, whichever is higher. If your sale consideration is lower than the guideline value, then stamp duty is payable on the guideline value. However, there is no restriction if the sale consideration is higher than the guideline value.

Regards

Keerthiga Padmanabhan

M.Com., CA, LLB

Hello Sir,

Why will the registrar refuse to register the property at a higher value. Infact they will be more than happy to do the same. In that manner, you pay more of stamp duty and in turn they get more fees.

I suggest you not to pay attention on such hearsay and go ahead with your registration.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP