Stamp Duty on Sale Certificate for Public Auctioned Property under SARFAESI 2002
We have bought a land through SARFAESI Public Online auction conducted by SBI in AndhraPradesh.
The purchased price is 15L. But the market price is 50Lakhs.
The sub registrar is insisting on paying the stamp duty on Market price.
This is against Articl18 of Stamp Act.
There are numerous judgement delivered in Supreme Court and various high courts including Andhra Pradesh.
1) Supreme Court
V.N.Devadoss Appellant (s) Vs Cief Rev.Control Officer-cum-Ins.& Ors.
CIVIL APPEAL NO. OF 2009 @SL P(C) No. 3920/ 2007
2) AP High Court,Reported in: 2006(3)ALD232; 2006(5)ALT237
Shraddha Goel Vs Collector (Market Valuation) and others.
3) Bharatia Pulverisers Private Limited, Kommuguda, Asifabad Mandal, Adilabad Dist. Vs. Sub-registrar of Assurances,
Reported in: 1998(1)ALD186; 1997(6)ALT801
4) Sub-Registrar, Nalgonda Dist. vs Amaranaini China Venkat Rao And ... on 3 February 1998
Equivalent citations: 1998 (3) ALD 46, 1998 (2) ALT 457
5) Karnataka Highcourt
Shankara Murthy Vs. State of Karnataka
Decided On: Mar-18-1985
Reported in: ILR1985KAR4157
6) M/S.Super Gold Constructions Pvt ... vs Sub-Registrar, S.R.Nagar, ... on 12 July 2017
WRIT PETITION No.13867 of 2007
7) Madras Highcourt.
W.P.No.10252 of 2004
8) Sivakumar vs The Inspector General Of ... on 1 April 2011
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: [deleted]
9) Madras Highcourt
DATED: 27.02.2014
Y.K. Mohan Rao and others
vs
Chief Revenue Controlling Authority and others
Therefore, in any Court auction sale, including an auction sale in SARFAESI and RDBI proceedings, if a sale certificate is opted to be registered, the stamp duty payable is under Article 18 r/w 23 of the Stamps Act. However, such stamp duty will be collected on the sale price fixed in the sale certificate.
What should be done if sub registrar still insists on paying the stamp duty on Market Price which is incorrect ?