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Stamp Duty on Power of Attorney regarding Immovable Property
07-Aug-2023 (In Property Law)
The property is situated in Neemuch, Madhya Pradesh. The owner is an old man who resides in Mumbai and cannot travel for registration of the property with the Sub-Registrar of Assurances and cannot go personally go for executing documents for selling/leasing/renting the property.
He wants to execute a Power of Attorney to his nephew (he does not have a wife or children) but he has a real brother.
What will be the stamp duty payable?
1) Rs. 500
2) As per market value of the property - As per Article 25, in which category will this fall as the property is not situated in Maharashtra?
Hello,
For executing the power of attorney you have to execute the same on a 500rs stamp paper wherein no other charges are levied except for the registration charges and other incidental charges.
Would highly recommend if you are making a power of attorney for execution of sale deed you should give the power to the real brother and not the nephew as that wont be acceptable.
Before you execute the power of attorney do make sure to check with the local registrar who will be registering it as they should accept the sale agreement on the basis of power of attorney.
Helpful?
Adv. Chinnmay S. Shah
Mumbai | 100+ Answers
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