I applied for loan from SBI for purchasing a flat in Kadugodi area. SBI insisting me to do registration on the Sale agreement value, not on Guidance value.Either I have to give a supplement agreement and a under taking which states that if Karnataka government later finds that the stamp duty is paid less than i have to bear that due or it will be added in to the loan. My seller( land owner share) is not ready to allow me to go for registration on the sale agreement value, but he is ready to give me the supplement agreement.Sir, can you please let me know whether it will be okay if I do an registration on guidance value? In future there will not be any issue?
P.S: Guidance value is lesser than the actual price on sale agreement.
It is always best practice to go with selling value for registration. Seller insists for guidance value for his tax liability. But when you sell (after few years), then it is you who has to pay the high tax.
Hence, always go for sale value to save yourself. Banks are on right track but your seller a biggest fraud.