Difference in property value in agreement to sell and sale deed.

Hi All,

I'm selling my property in Bilaspur, C.G which has a market value of Rs. 40 lakh. The government value (the value given to me by the local registrar) is Rs. 28 lakhs.

Now I wish to make the deal for 40 lakh in the sale deed, i.e complete white transaction. However, the buyer is insisting me to mention the value of 40 lakh in the Agreement to Sell (to get a higher amount home loan) and later make the final sale deed of only Rs. 28 lakh. (the rest 12 lakhs he want to give cash to save on his taxes and stamp duty). But I'm not convinced for this.

Now I don't want to mention different values in both the Agreement to Sell and the Sale deed.

I would like to know what possible options do we have to close the transaction, so that both of us don't get into any future trouble.

Kindly comment your suggestions and please provide your valuable feedback.

Thank you,

Kiran.