Registration of sale deed
Raghvendra
(Querist) 16 December 2013
This query is : Resolved
I am residing at Mumbai. I have a Bungalow at Kotekar, Mangalore(Karnataka). I intend to sell the property. However due to some constraints i am not in a position to personally be available at Karnataka for registration process. I intend to appoint my friend via Specific Power of Attorney for the registration purpose.
I understand from my acquintances that 5% of the consideration amount shall be levied if Power of Attorney as a mode is being used.
Request you to please confirm if this is true and also let me know the legal implications pertaining to this.
ABDUL RAZIQUE
(Expert) 16 December 2013
yes you can appoint an Attorney for do so, regarding % of consideration amount consult registration office.
ajay sethi
(Expert) 16 December 2013
5%would be stamp duty on sale of property . for power of attorney it has to be executed on Rs 500 stamp paper . register power of attorney
Sailesh Kumar Shah
(Expert) 16 December 2013
On selling of property, stamp duty would be payable by the purchaser as section 29 of the Indian stamp act.
There is no such rule about 5%.
BAALASUBRAMANNYAMM
(Expert) 16 December 2013
You can go for a "Special Power of Attorney", the stamp duty requires only thousands, but not as of you @ 5%. If you want to know the registration fees you can visit www.karunadu.gov.in OR www.karnataka.gov.in/karigr
R.K Nanda
(Expert) 16 December 2013
nothing to add more.
Rajendra K Goyal
(Expert) 16 December 2013
Special power of attorney may be executed for the purpose. Stamp duty for sale deed differ from state to State, is to be born by the purchaser. Stamp duty on SPA can also be known from the Stamp Act of the respective State.
