The last buyer of the old property will be liable for the previous transaction duty

- Antenna - Vivek Mehta

- If the property has been purchased four times and the loan has been taken four times, the money for each mortgage deed has to be paid by the last buyer.

The Ghats of Gujarat are similar to Andher Nagri and Ganduraja. Any circulars can be issued at any time. The last example is the Superintendent of Stamps circular. A strange provision has been made in this circular. For the purchase of property from private banks, if the bank has not registered the mortgage at the time of granting the loan and has not paid the stamp duty of Rs. will be charged from

From 2008 till now commercial banks have not deposited stamp duty without registration in the loan process. That is why the office of the Superintendent of Stamps of Gujarat has issued this circular. According to the notification given in the circular, if a new person buys any property after 2008 and in the interim four persons have taken loan to buy that property and private banks have not deposited the stamp duty four times without making a mortgage deed, then the responsibility of paying the stamp duty for the four times is from the last buyer. Recovery has been decided.

Private banks have not registered the article of equitable mortgage, deposit of title deed and not paid stamp duty and registration fee on it. As per the provision made in Article 6 and 36 of Gujarat Stamp Duty Act-1958 on article of mortgage deed, equitable mortgage, deposit of title deed from 2008 It has been decided to collect outstanding stamp duty on all transactions so far.

The office of the Superintendent of Stamps has sent notices to the banks in this regard, but as there is no response from the banks, it has been decided to take custody of the last buyer. This attitude is absurd. The defaulting bank and the end buyer are penalized. This justice is blind justice like the evil king of a dark city. Justice should be fair and impartial. Banks must have a record of 20 years. The mindset of penalizing the new buyer instead of identifying the home loan borrowers from the bank by taking this record and recovering from them is unjust. Banks have been notified and ordered to deposit the outstanding stamp duty, but no response is received. The Superintendent of Stamps believes that banks have evaded stamp duty and registration fees in this way. That is why under the provision of Section 39(1) (b) it has been decided to collect the missing stamp duty and impose penalty. It is also likely to impose a huge additional burden on property buyers in public auctions. This is an exercise to punish pakhali by bending the pada.

Due to this circular issued by the Superintendent of Stamps of Gujarat on 20th October, there is a possibility of huge controversy. If not, there is a possibility that old property deals will be stalled.

Any new buyer will check how often an old property has changed hands. At each stage, if a loan is taken, the lending bank will choose to buy it after verifying whether the mortgage deed has been completed, the stamp duty has been paid and the registration fee has been paid or not. Under these circumstances, if two middle buyers are not found, no one will come forward to buy the old property.

Private banks do not deposit stamp duty of 0.35 paisa on mortgage deed while giving loan on property. If this is processed in the loan, the loan has been given without getting the mortgage deed as the borrower is burdened with additional costs. As a result, the government has suffered from stamp duty revenue since 2008. Now the government has become active to collect all these amounts.