June 19, 2023: The Madhya Pradesh (MP) High Court on June 12, 2023 set aside an order by MP Rera that dismissed an application for project registration on the basis of not being properly stamped. This was done under Section 4 of the RERA Act 2016.
The case in point was based on a writ petition filed by Accrual Realities that entered into a joint venture development agreement with landlords for the 24 Carat Extn project against state of Madhya Pradesh, as per a report by livelaw.
On applying for RERA registration under Section 4 of RERA Act, 2016, Accrual Realties’ application was rejected through an order passed on April 19, 2022 that stated that the said property whose agreement was made on February 11, 2021, was not duly stamped.
While Accrual Realties had paid a stamp duty of Rs 12, 45,630, a stamp duty of Rs 22, 40,333 had to be paid in actual.
MP RERA and IGRS MP, in reply to the petition, said that if the instrument produced before an authority is not duly stamped then the authority can impound it under the Indian Stamps Act.
Taking into account the supporting replies of both the parties, the MP HC in its verdict pointed that if the agreement was not duly stamped, then it was incumbent upon RERA MP to refer the said document to the IGRS MP for impounding instead of dismissing the application for registration.
Setting aside the April 19, 2022, order, the single bench heard by Justice Vivek Rusia has told MP RERA to decide on the RERA registration application by the promoter afresh. It has also directed the IGRS MP to give an opportunity to the promoter to deposit the deficit stamp duty. The entire exercise has to be completed within 45 days.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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