Indian Stamp Act, 1899 (2 of 1899)

Section 1 -- Registration Act, 1908 (16 of 1908), Section 17 – Haryana Development and Regulation of Urban Areas Act, 1975 (8 of 1975), Section 5 -- Haryana Development and Regulation of Urban Areas Rules, 1976, Rule 11-B, 26(2) – Sale of plots – Prevailing practice of permitting transfer of plots before registration of conveyance deed to the allottee is not contrary to the provisions of the Act or the Rules -- There is no provision whatsoever in the Stamp Act or Registration Act imposing any restriction on the assignment or transfer of rights under a sale/purchase agreement by the purchaser to a third party, before the execution of any conveyance deed in respect of any immovable property -- Parties in the agreement had agreed for the substitution of the name of allottees at the sole discretion of the owner -- Director has no power under the Act or the Rules to issue any such direction altogether prohibiting such nomination of another person thereby substituting the allottee. DLF Universal Ltd. & Another v. Director, T.&C. Planning Haryana & Others, 2011(1) L.A.R. 338 (SC).

Section 47-A – Allotment/auction sale by State Machinery --  Market value – Stamp duty -- Valuation of – Reference of -- Property offered for sale by a State machinery -- A State or its functionary cannot itself be a party to under valuation -- It is normally to be expected that the property is offered for sale only at the market rate -- Reference to a Collector on the ground of under valuation, is not a mechanical process -- A Registering Officer shall have some basis for coming to a view that the valuation in the document is not reflective of the market price -- Extraordinary situation may be there when the bids are rigged by forming cartels -- In such extreme situations, the Registering Officer may still have a ground to make a reference under Section 47-A of the Stamp Act. The Mohali Club, Mohali v. State of Punjab and others, 2011(1) L.A.R. 9 (P&H).

Section 47-A – Punjab Stamp (Dealing of Undervalued Instrument) Rules, 1983, Rule 3-A,3-B – Sale of immovable property – Registration of – Market value – Determination of – Law summarised as follows: a).The Registering Officer, after registration may refer the documentation, for adjudication before the Collector, if he has reason to believe that there is deliberate undervaluation. b). The reference is not a mechanical act but the Registering Officer shall have a basis for coming to a prima facie finding that there is an under valuation. c). The circle rate or the Collector's rate (determined in the State of Punjab in the manner provided under Rule 3-A of the Punjab Stamps (Dealing of Under Valued Instruments) Rules shall afford such basis. d). The circle rate or the Collector's rate shall normally be with reference to the date of execution of sale and registration and not the valuation on the date of agreement or the date of allotment. e). The Registering Officer shall have no need, normally to suspect the valuation relating to the property valuation, when the State or its instrumentalities themselves have determined the market valuation or when the market valuation is best obtained through competitive bidding. f). If the date of auction/allotment and payment of installment are distanced by a long period to the date of execution of sale or registration, the issue of the valuation for the purpose of stamps could be controlled by specific Rules and the contingencies provided under the Rules will have to be strictly applied for taking the benefit under the Rules. The Mohali Club, Mohali v. State of Punjab and others, 2011(1) L.A.R. 9 (P&H).