Maharashtra Government's Move to Control Fraud in Property Dealings

Bangalore: Maharashtra Government has come forward with a new proposal to control forgery in property dealings. The forgery in multiple dealings and fraud in property has emerged vigorously in the state of Maharashtra. The government’s new move is to spread awareness and also to protect citizens form the misfortune.

Inspector General of Registration and Controller of Stamps issued the current circular where the confirmation deed and declaration deed will not be accepted if the purchaser fails to pay the stamp duty of properties present market value.

"The circular has been issued on December 22. It makes it clear that the confirmation deed and the declaration deed with annexure of the document for registration will not be accepted in case the parties concerned have not paid the stamp duty on the current market value of properties”, as stated by a senior government official reported by Business Standard.

According to the Registration act, it is mandatory to register the legal document within four months from the date of implementation and if the criteria are not met within four months then the purchaser will have to bear the penalty. Moreover, it was discovered that people botched to register their documents making it easy for the fraudsters to do multiple transaction and frauds.

Gokulbhoy Mulchand Tullockchand Harnath & Ors said: “If the two documents are essentially distinct, being separately stamped and executed to effect different objects, the Registrar has no power to register them as one, even if the party presenting them for registration styles one of them to be the annexure of the other especially where the registration of the document styled the annexure or appendix is barred by limitation”, reports Business Standard.