I am a purchaser/buyer, whether I should deduct TDS on Property from the amount exceeding the property value of 50 Lakhs or on the whole amount of property sold?

TDS is to be deducted on the total amount paid or credited to the seller. For example, if an amount of property sold is 70 Lakh, TDS will be deducted on total amount of the property i.e. 70 Lakh and not on 20 Lakh.