Government Acts to prevent misuse of stamp paper

Government Acts to prevent misuse of stamp paper

WITH the rising prices of real estate in prime areas of various cities, 'misuse' and 'abuse' of stamp paper is on the rise in Maharashtra. But. it comes to fore occasionally and many genuine property buyers are left in lurch. However, taking serious cognisance of two cases of tampering of stamp papers in Nagpur. Maharashtra Government has decided to act tough on misuse and abuse of stamp papers.

Inspectorate General of Registration and Controller of Stamps has asked (he Inspectors in Registration Department to scrutinise 'suspicious' documents pertaining to property transactions in past three years in the State. In a circular issued recently, il has been put on record thai 'irregularities in real estate deals are on the rise' and that many tend to 'evade' stamp duty thereby causing a loss of revenue for not only the Government but also the genuine buyers.

Considering the possibility of these instances. Inspectorate General of Registration and Controllerate of Stamps has asked the officials concerned to be 'extremely careful' while scrutinising stamp papers and documents involved in a property deal. Besides, they have been asked not to gram 'wrongful concession' in stamp duty merely on the basis of stamp paper submitted to their office. Instead, careful scrutiny of date or purchase of stamp paper.