I want to register a power of attorney giving power to surrender a rented shop in mumbai to the land loard please guide me and how much expence do I have to bare .
Yasmin parbaatani
As per your query it is understood that you need information regarding the registration of the power of attorney.
In a general Power of Attorney, the executor of Power of Attorney (Principal) authorizes the Power of Attorney holder to perform any nature of activity in the context of his immovable and movable property in his name and on his behalf. If a General Power of Attorney given to father, mother, brother, sister, wife, husband, son, daughter, grandson, granddaughter or any near relative, without any consideration, then Stamp Duty of Rs. 500/- is only applicable for registration. In case, General Power of Attorney given to a person other than close relative and/or for consideration, then stamp duty is payable as per the market value of the property or the consideration, whichever is higher.
In addition to the stamp duty, a registration fee of Rs.100 is applicable if the Power of Attorney given without consideration in the name of the father, mother, brother, sister, wife, husband, son, daughter, grandson or granddaughter or a near relative. In any other case, the registration fee is payable at the rate of Rs.10/- per Rs. 1000/- with a minimum of Rs. 100/- and a maximum fee of Rs. 30,000/- on the market value of property or consideration, whichever is higher.
Hope it helps!
Regards,
Anusha Singh
