sam 29 November 2021
Hi,
I have given POA in 2008 and stamp paper value was 100 at the time, I have executed lease agreements with this POA (last was in 2018). However, now I am told 500 stamp on POA is mandate as per Govt of Maharashtra to register the agreement.
What should I do? Try to register with the 100 one? get a 500 stamp franking done on the old one or make a new one altogether?
thanks,
SM
P. Venu (Advocate) 29 November 2021
Who is the principal? Why the PoA? Moreover, execution of conveyance by PoA is not permissible except in specified instances.
Please post complete facts.
sam 29 November 2021
Thank you sir for your response, here are the details.
Property to be rented out is a commercial property. Son is ower of property, stays out of the location. Mother stays near property and has POA to rent it out. As mentioned, this was done in 2018 successfully with online/biometric process.
New tenant agreement needs to be signed with mother using POA.
However, for the newer agreement, broker is mentioning the POA may pose a risk of being rejected since it is not 500rs stamp.
I want to know if there is some new rule b/w 2018 and now by Govt of Maharashtra mandating 500 rs stamp paper or old one with 100rs can continue to work. The POA was made in 2008 and has been used in teh sub-registrar office several times over the years.
P. Venu (Advocate) 29 November 2021
Stamp duty as applicable at the time of execution of the PoA is relevant. The broker is incorrect in his information.
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