Properties in Delhi cannot be sold through Transfer of General Power of Attorney
The government of Delhi has banned the sale of any property in Delhi through Transfer of General Power of Attorney.
This order by the government will impact the buyer, who had bought properties since October last year.
This was a common mode of purchase, almost 40% of transactions are happening in this mode of transfer, as buyer’s are not required to pay stamp duty at the time of sale registration. Hence in this mode of sale, the government is losing the revenue on stamp duty .
According to government, every transaction for property in Delhi will get a fresh registration.
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Source: Economic Times
property in Delhi, sale of properties in Delhi, sale registration, Stamp duty, Transfer of General Power of Attorney
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[...] Properties in Delhi cannot be sold through Transfer of General Power of Attorney [...]
[...] Properties in Delhi cannot be sold through Transfer of General Power of Attorney [...]