47a
Herald
(Querist) 21 May 2014
This query is : Resolved
Hi,
I have registered a house property in Chennai last month purchased through bank loan. When the bank people approached register office for original documents, they have intimated that 47A is pending.
Could you please help me in clarifying what it means and what do I need to do to resolve the same.
Thanks in advance
Herald John
Devajyoti Barman
(Expert) 22 May 2014
It looks like revenue in respect of the property is pending.'
If so then pay the arrears.
Meet a local lawyer.
Rajeev Kumar
(Expert) 22 May 2014
If it is revenue in the property pending then pay it. Contact local lawyer.
Sankaranarayanan
(Expert) 22 May 2014
Section 47-A of the Indian Stamp Act, 1899 (Central Act II of 1899) as amended by the
Indian Stamp and the Registration (Tamil Nadu Amendment) Act, 2006 (Tamil Nadu Act
13 of 2008) empowers the registering officer to estimate the market value of the property,
as per the market value guidelines of properties prepared by the “Valuation Committee”
constituted under section 47-AA, while registering any instrument of conveyance, dissolution
of partnership, exchange of property, gift, partition, release or settlement. The said
section 47-AA, which was inserted by Tamil Nadu Act 13 of 2008, empowers the State
Government to constitute a Valuation Committee under the Chairmanship of the Inspector
General of Registration for estimation, publication and revision of market value guidelines
of properties in the State and for constitution of sub-committees in each district by the
Valuation Committee. The registering officer would be able to estimate the market value
of the property under section 47-A of the said Central Act II of 1899, only after the
publication of the market value guidelines of properties prepared by the said Valuation
Committee. Therefore, it is considered necessary to give effect to the provisions of the
said section 47-AA, prior to the date of giving effect of the provisions of the said
section 47-A, as amended by the said Tamil Nadu Act 13 of 2008. Accordingly, the
Government have decided to amend the said Tamil Nadu Act 13 of 2008, suitably, for
the purpose
T. Kalaiselvan, Advocate
(Expert) 22 May 2014
Expert Mr. Sankar Nrayanan has given a proper explanation to the query, I agree to it.
Rajendra K Goyal
(Expert) 22 May 2014
Well explained by the expert sankar narayanan sir.
