Help understanding re-sale of flat
I am trying to understand the guideline value of a flat to resell (Ayanavaram area, 30+yrs building) and the impact for seller
On TN website found guideline value of land. At 406 UDS and GV of INR5500/ sqf...This comes to INR22,33,000
Added the building value..For superbuilt up of 1050 sqf at INR 3500/sqf .This comes to 36,75,000
So 1+2 comes to approx INR 60L
If my sale price is 90 lakh and that is the same price I will be asking on the sale deed as I want to keep things legal.
Is there anything I am missing? If the sale price is very much above guideline value is there some penalty for the seller?