- (1.) This petition seeks quashing of order dated 26.8.2008 passed by the Collector determining true value of the transaction of the sale under the provisions of the Section 47A of the Indian Stamp Act 1899 (for short ''the Act'') as affirmed on appeal vide order dated 20.5.2009.
(2.) Case set out in the petition is that the Petitioner purchased a chunk of land measuring 48 kanals. Agreement to sell was executed on 16.10.2004 and sale deed was executed on 1.2.2006 for Rs. 35 lacs per acre, The matter was referred to the Collector with the allegation that there was under valuation to evade stamp duty as the land was a residential area being within municipal limits of Kharar town for which collector rate was Rs. 80 lacs per acre. The Collector accordingly held that there was under valuation to evade stamp duty and correct valuation was Rs. 4,80,00,000/- as against Rs. 2,10,00,000/-declared by the Petitioner. It was observed: 6. In view of the provisions of Section 47-A, and rules made there under I am convinced that as per the stamp Act, for charging the stamp duty price of property is to be assessed on the basis of its value on the date of execution of the instrument relating to transfer of the property as per its kind. This clearly means that the value has to be taken as it stood on the date when the parties execute the documents before the Registering authority, in this case the value has to be taken as it stood on that date. 7. Keeping in view the above it is clear that the Collector rates are fixed by taking' various factors such as the classification of land, its kind, location, distance from bus stand, railways station, market its present use etc., and as such it has to be seen what type of land the Respondent has purchased so that the same is assessed at the correct'' rates fixed by the Collector. It is a fact that the Respondent has purchased chunks of land but its kind has to be determined. To arrive at the conclusion, the entries in the revenue record, report of the Sub Registrar and the local inquiry are to be made the basis. As per Sub Registrar's report, the area purchased by the Respondent is under colonization, plotting is being done, houses are being constructed, hence can be called a residential area and valued at the rates fixed for residential plots. 8. To know the factual position on the ground as to the classification of the land at the time of registration 'Khasra girdawri' was looked into and as per copy supplied by the concerned Patwari, the kind of land purchased by the Respondent comes mainly that of 'gair-mumkin plots'. Further during the course of local inquiry, it has been noted that there has been spurt in the prices of the land in question because of various Mega Projects coming in Mohali and around Kharar and the entire land purchased by the Respondents falls within the Municipal Committee, Kharar area. From the report of the Sub Registrar, facts available in the revenue record as mentioned above and from the local enquiry it has been found that the Respondent has purchased mainly the plotted area and it would be fair if the stamp duty is assessed on the rates applicable to the kind of land purchased by him. Though during the local enquiry it has also been found that the rate of property at the relevant point of time i.e. at the time of registration of sale deed was on the higher side, yet the rates determined by the District Collector after taking into all the facts for plots/residential areas in Mohali/Kharar for the year 2006-07 which are Rs. 50,000/- per marla for plots/abadi, would definitely apply to it. Therefore, it would be reasonable and fair if the value of the land is determined as per Collector rates for the residential/plotted land purchased by the buyer. As per these rates the value of 48 kanal land comes to Rs. 4,80,00,000/-. On this the stamp duty payable works out to be Rs. 43,20,000/- and the Registration fee works out to be Rs. 10,000/-. The stamp of Rs. 18,90,000/- and Registration fee of Rs. 10,000/- has already been paid as per the report of Sub Registrar. Hence M/s Gilco Developers & Builders Pvt. Ltd., Head Office Kothi No. 2169, Phase-7, Mohali is directed to pay the remaining stamp duty of Rs. 24,30,000/- (Rs. Twenty four lacs thirty thousand) along with interest @ 12% per annum from the date of registration of the deed till the date of payment of the deficient stamp duty.
(3.) The above finding was affirmed by the Commissioner.;