Hi Everyone,
X is the owner of a property in Bangalore. X has registerd Y as the GPA to do the following:
1)enter into agreement of sale with any purchaser in our name and to recive the sale advance.
2)Execute sale deed and recive full considreation amount on our behalf
3)Our attorney has got all right to dispose the land , represent us before various government agencies to get work done on our behalf including converting the agricultural to residential.
GPA document also says the stamp duty has paid the market value of 10 lakhs (stamp duty being 20000 ie, 2%).
1)Is this the correct stamp duty?
2)Other than this there is no mention of the consideration in the GPA document. So is it safe to assume that if 2% stamp duty has been paid, the GPA is for consideration?
Rgds,
Kiran
