Vikram Nath, J. - (1.) The petitioner purchased House No. 385/266, Mohalla Bahadurganj, Allahabad, standing over a total area of 84.02 square metres vide registered sale deed dated 8.2.1999. The covered area of the building was only 35 square metres and the remaining was open land. It is also averred in the sale deed that the constructions are more than 100 years old and are in dilapidated condition. The petitioner applying the circle rate, existing at the relevant time, paid Stamp Duty of Rs. 30,000/- on a total market value of Rs. 3,00,000/-.
(2.) The matter was referred for determination of market value under Section 47-A of the Indian Stamp Act, 1899. Notices were issued and objections were filed by the petitioner. The Deputy Collector, Sadar, Allahabad vide order dated 26.8.2000 came to the conclusion that since the building in question was situated in a commercial area, therefore, the circle rate applicable for commercial building should be applied and market value should be determined accordingly. According to him for commercial areas, the circle rate was Rs. 60/- per square metre per month as monthly rent and.as per the formula 25 years rental value would determine the value of the building. The Additional Collector applied the said formula over the entire land of 84 square metres and further applying the value of construction at the rate of Rs. 3,200/- per square metre, calculated the value of the constructions and, after summing up both the values, fixed the market value at Rs. 17,82,000/-. On the said value, the Stamp Duty payable would be Rs. 1,78,200/-. He further Imposed penalty at the rate of 2% per month which came to Rs. 56,316/-. As the petitioner had already paid Rs. 30,000/-, the total amount imposed as deficiency and penalty was Rs. 2,04,516/-.
(3.) Aggrieved by the said order, the petitioner filed a revision before the Commissioner, which has also been dismissed vide order dated 9 4.2001.;