Jun 14, 2013
NEW DELHI: The Delhi government is considering reversing the order issued by its revenue department in April 2012 that put a stop to registration of all general power of attorney (GPA)-based property transactions citing a Supreme Court judgment of October 2011. A new order that is likely to open the doors for registrations based on GPA will come with a rider that these can only be legal transfers and cannot be construed as a transfer of title that enables mutation of property. …
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Ban on general power of attorney sale will raise property prices in Delhi
May 5, 2012
The Delhi government’s decision to ban sale of property through general power of attorney (GPA) will cause hardship to the property owners in Delhi, who bought the property on GPA, which lacked perfect documentation but is free from any disputes.
Now, to complete a transfer of property, a seller has to execute a sale deed, which has to be duly registered in the office of registrar or sub-registrar. The decision will affect the availability of saleable property and, therefore, will lead to a sharp rise in the free-hold property prices in Delhi. Read more.