Thanks for inspiration My Friend!
I got two related questions:
(1) What is the current market rate per/sqft in Patrapada Area(Near Techno College/New AIIM Campus). I am interested in buying a residenial plot in that area
(2) SALES DEED Document- If the market Price is higer than the price quoted on Sales Deed, then what could be the negative tax implication?
e.g. If I am paying 15 lakhs for a plot, but the Sales Deed is stating only 10 lakh, is it Ok? I know most people do this to lower the registration cost.
But in future, if I need to sale the same plot , say for 25 lakhs, and the Buyer insists me to put 25 Lakhs on the Sales Deed(Assuming he doesn't care about higher registarion cost), then I need to pay the capital gain on 15 Lakhs!!, Right?
Any feedback will be appreciated!
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