Property transactions worth hundreds of crores pending
Nishikant Khajuria
JAMMU, July 7: As the latest Government software is not supporting the provision of attaching previously paid stamp duty on power of attorney documents to new sale deeds, hundreds of registrations of property transaction are pending in Jammu and Kashmir Union Territory, thus forcing people to suffer .
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The registration software, which is not supporting the required provision since January last, has caused considerable delay and complications in the operations of registration of documents involving the transfer of land and immovable property worth hundreds of crores of rupees.
Besides harassment to the people, pending of the property transaction cases is also severely affecting the Government revenue being generated through stamp duty.
Even as the Revenue Department is seized of the matter and several representations in this regard have been submitted to the concerned authorities, the necessary action has not been taken for the reasons best known to the persons at the helm of affairs.
According to a rough estimate, sources claimed that over 1500 individuals who are holding power of attorney for land and immovable property in Jammu, are directly affected by the software’s alleged malfunction in registration of property transactions.
While elaborating, sources explained that core of the issue revolves around the inability of the latest software to attach previously paid stamp duty on power of attorney documents to new sale deeds. This procedural hiccup is the major stumbling block, as the software currently lacks the functionality to support this attachment, resulting in significant delays and consequent losses, sources added.
Pertinent to mention that Section 18C of the Jammu and Kashmir Stamp Act 1977 clearly mentions that in the case where a power of attorney authorizing the agent to sell immovable property is stamped with ad valorem duty required for a conveyance and a sale deed is executed in pursuance of power of attorney between the executants of attorney and the person in whose favour it is executed, the duty on the sale deed shall be the duty payable under the article less the duty already paid, subject to a minimum of Rs 100.
This provision of the J&K Stamp Act was being followed till December last. However, in January 2024, the registration software was updated to nullify this provision notwithstanding its legality as per the J&K Stamp Act.
Despite various representations by the aggrieved persons to the concerned department and officers, including the Sub-Registrar, Inspector General of Registration (IGR), and the Special Secretary of Revenue, no resolution has been reached. This has caused widespread inconvenience to the affected people and creating a backlog of pending cases of property transaction.
Official sources told the Excelsior that the matter is currently with the Revenue Secretary for final approval. Despite repeated attempts, contact could not be established with the concerned Revenue officers for their take on the matter.
As timely resolution of this issue is crucial to streamline property dealings and avoid loss to revenue generation through stamp duty, the affected people have appealed Lt Governor Manoj Sinha to issue necessary instructions for restoring proper attachment of the already paid stamp duty with the sale deeds proposed to be executed.
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