hello all, Request you help here.
A registered GPA is executed in year 1990 registered in book IV for management of property in favor of developer (3rd party) of the layout, to obtain layout plan and to sell the sites made in the property and to take consideration amount of the of sale with a mention of irrevocable.
The stamp duty paid was only Rs. 100 for GPA registration during that time in the year 1990. Sale consideration is not shown in this GPA. The sale consideration is shown in unregistered Agreement of sale.
Can attorney (3rd party) still sell sites, some empty land still left using the same GPA with sale power deficit of stamp duty considering the current prevailing law? please clarify.
The link says Stamp Duty and Registration Fees - Department of Stamps and Registration (karnataka.gov.in)
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When given to persons other than father, mother, wife or husband, sons, daughters, brothers, sisters in relation to the executant, authorizing such person to sell immovable property situated in Karnataka state. |
5% on the market value of the property |
1% |
Is this clause applicable to GPA executed in the year 1990. ?
