GPA and Registration

[malavan]

Hi,
i was told by one of my friend to go for GPA rather than a registration where we will be saving registration cost and stamp duty if i'm planning a purchase only for investment sake, and he also suggested to take GPA and also promisery note in which the value of the site is paid as loan to the land lord so that in future there will not be any issues, is it advisable, what are the pros and corns in that can somebody suggest so that it may help some body else also who was also thinking the same.

[blrsiteseeker]

one thing I can come up with is - a GPA can be rescinded. so the guy who signed the GPA (with the property in your name) can at any time take it back. What then?

[abbhatta76]

I have been told by the developer that farm land plot of 2 gunta can not be registered outside 40 km from Bangalore and he insist on offering GPA.Can somebody advise on this