One of my uncle purchased a plot in rural area 25 years ago . Till now there is a no devlopment . He purchased that plot for rupees 50000 . Plot size was 3200 sq feet . Now he decided to sell his plot for rupees 1 lakh but according to govt guideline plot cost will reach beyond 4 lakh .
I am interested in that plot and want to buy that . But respected experts , i have a quarrey ...
If i purchased that plot in 1 lakh by giving cheque to him . Then how ito will trat the difference amount ( 400000 - 100000 = 300000 ) . He is in need thats why he is seeling . i Have some amount then i am interested in buying ... Am i right ? Can i enter in this deal . if i enter then what will be response from ito ? if ito will also add the difference amount ( 3 lak ) in my income then will it be right ? Please suggest the right way ...
CAclubindia
