NAKODAR
The Punjab Government has introduced a new norm for the registry of power of attorney for land /property sale purposes.
Stamp and registration branch in the office of the financial commissioner in an official communication to all divisional commissioners, deputy commissioners, sub-divisional magistrates, sub-registrars, deputy sub-registrars in the state, and inspector general of registration Punjab said that to discourage a power of attorney out of the family for sale of land /property it has been decided that if someone wants to register such power of attorney he will detail the land /property and its collector rate or fixed price agreed by parties, whichever is higher, in the document for registration and pay two percent stamp paper duty.
The communication said such a power of attorney system is used by a property dealer and to stop this misuse new norm has been introduced for registration of power of attorney for land/ property sale.