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Sathish (Manager)     14 November 2012

Sarfesi act reg.

Dear sir/madam,

We bought a property (includes movable and immovable ) from Axis bank thorugh public auction done as per SARFESI ACT proceedings.

We are given a sale certificate by Axis bank, the market value of the property as per sale certificate is 1.46 crores. Axis banks confirms that the stamp duty shall be only on market value/auction price given in sale certificate
However, when we approached Sub registrar for registration of the property, the registrar is saying that the stamp duty applicable shall be on market value as per his estimate (circle rates) which he says is approx. at 3 crores.
Could you please confirm the actual applicable stamp duty to be paid !
is it on market value given in sale certificate or market value as per registrar's estimate ?
Any references to legal act/document/judgement shall be of gret help to us.


 1 Replies

narendra.s.p (Chief Manager(Law))     14 November 2012

Please ask for guidence ualue for the purpose of registration. It is generally published in the website of Stamps and Registrartion Department of the concerned state government.

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