This is new trick of cheating:
Most property deals goes like this, First negotiations-Token advance- document verification- a agreement for 3 or 6months etc.
If the RTC has multiple names and only one person is selling, that property has to be surveyed and 11E sketch must be prepared, and new RTC will have a single name. This is called POD. usually in Karanataka there is a waiting period. It takes almost 3-6months.
If you have made a agreement for 6 months, land value also appreciates much because it is the only place people can keep black money. So there is a huge demand and people bug the land lord with whom you have made a deal. They lure him with 1.5 times of the value of the agreement.
Now how to come out of the agreement legally?
Usually govt rates will be 10% of market rates. people pay stamp duty for govt rate(this is what most people do). But your seller says he wont agree for govt rates, he wants it to be regeistered for the market rates. I
In this case your agreement is helpless. You case will be dismissed in first hearing. becasue he says “I am ready to sign for registrations but the buyer is getting the property registered for low price. He is cheating govt.”
Next what will you do? no rule can help you. If you register it for market value, it goes for scrutiny, AC will reject khata, you have to show the source of income… lot of paper work(actually bribe)
Or if you cancel the deal, jollywell he would be pleased to offer you clousure of agrrement(remember he has offer of 1.5times from other party)
Any legal advise?