Market value of the property as ascertained by the stamp duty authorities on the basis of a Ready Recknor.which gives the per sq. mtr. value of each village, zone and sub-zone . But the ready recknor is not conclusive and is merely a guideline for the stamp office.
An instrument, which is not registered, is inadmissible as evidence.
Every document which is required to be registered under the Registration Act, except a Will, should be presented at the office of the Sub Registrar of Assurances for the registration within the prescribed time from the date of its execution. A document is registered with a sub-registrar of a district in which the immovable property is located.
An NRI is a Person Resident Outside India who is a citizen of India or a Person of Indian origin. A Person resident outside India is a person who has gone out of India or who stays outside India, in either case - For or on taking up employment outside India, or - For carrying on outside India a business or vocation, or - For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.
A person of Indian origin is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who: - At any time, held Indian passport - Who or either of whose father or whose grandfather was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).