Question on one of the comments on an article -
https://www.lawyersclubindia.com/articles/comments.asp?article_id=11017
It is said above that Notarizing the POA is as good as registration. In maharashtra, at registry office, if agent is outsider or not in any relation, stamp duty will be calculated / charged on behalf of market value of property. while notarized is done on 100/- stamp paper. Will both have same powers?
1. ONLY a proper Stamp Duty paid (500/-) and Registered POA holder is entitled to execute any immovable property transaction before the local registrar of sub-assurances. IF the POA is not registered, THEN the whole proceedings shall remain illegal. POA can be given to "ANYBODY", irrespective of relationships.
2. Stamp Duty on POA is not the same as Stamp Duty paid on Sale /Purchase Deed. POA holder can execute Sale Deed, wherein the Sale Deed MUST be duly stamp duty paid and duly Registered. A Notarized POA is legally infructuous for immovable properties.
Keep Smiling .... Hemant Agarwal
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