Sale of property at a lower value

Selling the flat at lower than the market value i.e for the stamp duty valuation will attract section 50C and AO will consider the market value for the purpose of capital gain.

You may see if assessee have incurred some cost of improvement during the tenure of holding the property.

Further there is exemption u/s 54 if the capital gain is invested in another residential house property.

Thanks for the input.

Is there a remedy in case the sale is effected at a lower price? Or would the person hav to end up paying CG even when there would be no gain actually?

There are no improvement expenses.

It depend upon the facts and figures. If the actual consideration is very nominal and person buying flat is close relative then the title may be transferred throug gift deed as well.