Why should the buyer of land/building alone be charged the registration fee? Why not the seller too?

Question

It is known that there is lot of corruption in the registration process of land or buildings. The true value is never shown, thus the state losing the revenue. The owner or the seller receives lot of money as black money, hence no record of it. The buyer pays all the black money, hence he is interested in reducing the cost to him and agrees to register for less amount to reduce the tax burden on him. If the registration fee is to be paid by the seller too, the buyer may insist for correct amount to be shown. In this way generation of black money may be reduced. Why is this simple thing not being looked into, in spite of all tall talks of reforms?

Answer 1

There is no bar in bearing the cost of registration by the seller! However, the buyer bears the cost because, the title over the property has to be transferred to his name and it is his money is invested and hence buyer is more interested in transfer of clear title to him. With regard to generation of black money, the property transaction is not the only way of generation there are so many!. If the state governments drastically reduce the stamp duty and registration fees and bring transparency in the procedure like on-line registration etc., to some extent generation of black money can be prevented.

Answer 2

When the rules of the game are established consistently - then nobody should lose:

The buyer pays the registration fee
The buyer pays the notarial fee for examination of property records to ensure everything is in good order, and for calculation of all transfer costs etc., including any remaing property taxes due for the current year
The seller pays the sales tax

You may escape the price differntial during the initial purchase but the municipality will soon catch up with you with their new evaluation techniques ( already being used by the Delhi municipal corporation for their annual evaluation rolls etc. ).

Answer 3

Since the buyer alone is benefitted, he should pay the registration fees to have the property to him and seller is no way benefitted except paying wealth tax if he has not invsted within 6 months in government bonds. It is just like sale and purchase of goods

Answer 4

Because the property is registered under the name of the buyer. Does that make any sense?

Answer 5

Specify that Paypal funds should be made from cutting-edge Paypal funds and not in any respect by skill of instantaneous credit or debit card funds. you may demonstrate screen the funds on your Paypal account and go back them in the journey that they don't look to be paid this kind. you ought to loose some bidders and get one or 2 annoyed shoppers who can not tell the form, yet you receives your finished fee. bear i ideas that in case you withdraw decrease than £50 out of your Paypal account you'd be charged for that too.

Answer 6

as the registration of title is going to be with buyer that,s why he has to pay for it.