Power of Attorney without consideration...
tdeli
(Querist) 27 December 2010
This query is : Resolved
A General Power of Attorney is to be made (without consideration) in Delhi which gives powers to his son to sell his properties.
Will this POA needed to be registered or not.
If yes what will be the stamp duty paid.
Do the details of the property been given in the POA or a general clause to sell all his properties is enough.
Thanks.
Gulshan Tanwar
(Expert) 27 December 2010
Rs 500 stamp paper is required for the same and thereafter get it registered at the SR Office and dont adopt Notary Public tactic as it will hinder the evidence, if anything bad happens with the same.
Details are always mentioned and it is better also whenever giving GPA do also give SPA and draft it cleverly to overcome the duo' and the last say should be yours and not the POA holder.
A V Vishal
(Expert) 27 December 2010
Will this POA needed to be registered or not.
Ans. POA coupled with power to sell property is copulsorily registrable document.
If yes what will be the stamp duty paid.
Ans.For consideration and authorizing to third party for selling immovable property, Stamp duty shall be levied as on conveyance, and determined on the market value of the property. However, in case of blood relation the stamp duty is minimal and may vary from state to state.
Devajyoti Barman
(Expert) 27 December 2010
Such POA is compulsorily reistrable and the stamp duty varies from state to state. In Bengal the stamp duty is Rs 50.
SAANJAAY GUPTAA
(Expert) 28 December 2010
Yes, such POA required only Rs.50 stamp paper in west bengal and you have to mention in POA the details of the property.
s.subramanian
(Expert) 28 December 2010
Registration of such POA deed is compulsory.
Kirti Kar Tripathi
(Expert) 28 December 2010
yes, registration of power of attorney is compulsory. Rs. 50/- Stamp is sufficient.
Arvind Singh Chauhan
(Expert) 28 December 2010
One of learned senior referred this citation earlier- Please go through-
Registration Act –Sec 58 and 17- Power of attorney not compulsorily registerable- Syed Abdul Khader vs Ram Reddy- SC -AIR- 1979- 553.
Surrender K Singal
(Expert) 28 December 2010
How lucky is the querist to get such elaborate opinions !
valentine thakkar
(Expert) 29 December 2010
As per the latest amendment, all POAs should be registered as a rule. The stamp duty may differ. In Gujarat it is done on Rs.500 stamp paper and then registered. If without consideration, no stamp duty.
tdeli
(Querist) 01 January 2011
Thanks...
NOTTAM VENKATASAMY
(Expert) 02 January 2011
ACT SAYS RS.100/ ABOVE IT MUST BE REGISTERD, IT IS VERY MUCH SAFE TO BOTH THE PARTIES.