I am buying a plot and is registry 5 percent of property value?
I heard that government have fixed rates, so while my plot might be a 2 lack per marla but if government rate is 1 lack for area, we can do registry for the value of less than plot? is this ok any pro or cons?
Thanks in advance?
Mian Sahib replied on Wednesday, July 11, 2012 04:27 PM
It will be OK if the registry is at Govt. rate ( commonly known as DC rate. There is no complication or implication involved. |
RA replied on Thursday, July 12, 2012 04:33 AM
Dear Irfan,
There could be one risk that close relatives of the seller may claim in court the refund of property. In that case you will be refunded only the price which is mentioned on the registry (i.e. 01 Lack per marla). This is my own opinion. Experts are welcome to comment please.
Kind regards,
RA |
Irfan replied on Thursday, July 12, 2012 05:02 AM
Thanks Main Sahib and RA, I was also thinking if this is wrong to put lower price religiously than I will not do it.
The claim can happen with in 3 months of sale only right?
After Registry do I proceed with Intiqal?
Also what is procedure if I am buying property for short term such as an year or two for resale purposes, can we avoid paying taxes each time it is purchased? |
