Registering authorities in Maharashtra will now be compelled to register property transactions even if stamp duty paid is based on the agreement value as opposed to the earlier system where it was paid on the estimated value in accordance to a ready reckoner.
According to a recent judgement of the Bombay High Court, the registering authority, ie the office of the Inspector General of Registration has been directed to act in accordance with rule 4 (6) of the Bombay Stamp Duty (determination of true market value of properties ) Rules.
According to Vinod Sampath, advocate, Bombay High Court,
