Q:I recently registered a flat in Kolkata in Salt Lake area. I am confused as to why are flat registrations done on the purchased value but not on the government value for per sq ft?
Latest Answer: Law says that you need to show lesser than the purchased value, i.e., government values less than purchased value in the documentation papers. The house registry or land registry is stamped, executed, and finally registered in the presence of seller, buyer and two witnesses at the office of the SUB Registrar of Assurances at 5% market value of the property as Stamp Duty. You can take any legal advice for further help.
