Hi Sir
Which Rate ( Circle Rate/Govt. Rate OR Market Rate to be considered in immovable property division between Two Brothers by a living parent.
for example say AreaX has Govt Rate Valued as 40Lakh but the Market Rate Valued at 80Lakh so division has to be made by parent on 80 Lakh or 40Lakh ..........to by knowledge 1/3rd each has to be taken but which rate to consider for 1/3rd each.( parents one part + brother one + brother 2 = total)
Thanks in advance
Hari
1 Answers
Dear Hari,
If Parent is not selling the property then he/she can just mention the ownership shares or property details in the Family Property Settlement Document.
In case, he/she would like to mention the amount then it is purely his/her choice to choose which valuation method. As the market value can be subjective, can mention the Govt Rates as per that given date/year.
Related articles :
Please login or Register to submit your answer