Revaluation of property for a Title deeds

[mvmurray1]

I recently paid all expenses owed and issued a bankers draft to the largest property developer in paphos in order to get my title deeds issued. I am now being told that the property I bought in paphos in 2009 has been revalued by the land registry office and I have to pay more to have my title deeds issued. Is this legal? Surely if I could have got my title deeds in 2009 when I bought the flat as a resale I would have paid the expected amount at that time based on the price paid (at that time). The land registry, I have been told,have revalued it at 30,000 more than I paid for it in 2009. if I were to try and sell it now I would be lucky to sell it at 30,000 less than the price I paid for it! Is there anything I can do or do I have to just give up and pay the extra amount. I feel I,m being held to ransom. Thanks in advance for any suggestions u can provide

[Nigel Howarth]

Hi mvmurray1 and welcome to the forum.

The Land Registry bases the Property Transfer Fees on what it considers to be a property's market value at its date of sale. I have received many, many complaints about it overcharging by a significant amount. Take a look at:

http://www.news.cyprus-property-buyers. ... /id=007624

http://www.news.cyprus-property-buyers. ... /id=004712

http://www.news.cyprus-property-buyers. ... /id=007738

Antonis Loizou offers advice on how to deal with this extortion. See http://www.aloizou.com.cy/documents/Tra ... uation.htm

Regards,