Legal Question in Real Estate Law in India

Dear Sir,
We are buying a property whos's market price is around 40Lakhs. But the owner is expecting to do the registration for upto 18L and handover the remaining amount in black.
We are going for a loan which is actually a 75% of the amount in agreement(18L).
We need a loan upto 20L so my question is if we do the agreement upto 23L just for the purpose of getting loan and do the registration for 18L will it be a problem?

Asked on 8/22/12, 11:49 pm

anil kumar legal aid forum

0 users found helpful

0 attorneys agreed

if every thing go right there will not be any problem with this arrangement if something goes wrong u will endup in difficulties

Answered on 8/23/12, 12:54 am

0 users found helpful

0 attorneys agreed

you may look for another property.

Answered on 8/23/12, 1:30 am

Shrichand Nahar S.V.Nahar, Advocate

0 users found helpful

0 attorneys agreed

Avoid dealings in black money as same are illegal.

Answered on 10/03/12, 10:57 pm

Keywords

Match Any Match All

Country

State

Area of Law