General Power of Attorney
Swathi S Bhat
(Querist) 09 November 2010
This query is : Resolved
Sir/Madam,
Mr. A (Resident of Karnataka State) wants to execute GPA in favour of B, (Resident of Karnataka State) for sale of his immovable property. Now the question is whether A has to pay registration fee of market value (6.72 as per registration act) of the property for executing his GPA in favour of B? If it is so, may I know the provision of law? Is there any decisions? Kindly enlighten me in this regard.
With regrds,
Swathi
s.subramanian
(Expert) 09 November 2010
The law in this regard changes from state to state. it is better to approach the local registrar's office to get accurate details. In Tamilnadu different duteies are levied for sale agreement without possession and sale agreement with possession.
Vinoba
(Expert) 09 November 2010
Hello,
It is sufficient to engross the recitals of power of attorney in a fifty rupees non-judicial stamp paper which shall be presented to the registrar who will collect the registration fees as per registration rules of your state.
Vinoba.L
Advocate
Devajyoti Barman
(Expert) 09 November 2010
The clever drafting of such GPA can indeed save stamp duty on the value of the property. So, it is better to spell out the area of functions around which the power would be executed.
Chanchal Nag Chowdhury
(Expert) 09 November 2010
GPA which includes power to register docs. are compulsorily registrable. The value of the property is irrelevant if your Attorney collects the money on your behalf to hand it over to you. This must be expressly stated in the GPA as otherwise,it may be construed to be an interim sale attracting ad-valorem stamp duty.
Swathi S Bhat
(Querist) 11 November 2010
Hello EXPERTS,
Thanks to all of you for your valuable suggestions.
with regards
SWATHI
