Revenue minister Bikram Majithia on Thursday said that the state government had decided to continue with sale and purchase of lands through power of attorneys.
In a press release issued here, the minister said, "In fact, Punjab Vidhan Sabha has given a green signal to the system, with the condition that 2% stamp duty on circle rates would be levied on power of attorneys by amending Schedule 1A of Indian Stamp Act. An ordinance in this context would be introduced soon."
The government had earlier decided to check malpractices in the registration of land records by prohibiting sale and purchase of land via third party power of attorneys (barring blood relations). This move had created tremors in real estate circles and with a few extensions in the deadline of the date of registration of property via power of attorneys, a large number of registrations were materialised, generating huge revenue for the exchequer.
Now, the decision to validate sale/purchase of property via power of attorneys with a rider would prove to be beneficial to the state, generating additional revenue.
Initiatives have been taken to bring about transparency in the revenue department, Majithia said and added that a special transfer policy to cater to transfers of tehsildars, naib tehsildars, kanoogos and patwaris had been made and those working in cities for two years would be deputed in rural areas.
Earlier, Majithia laid the foundation stone of Rs 5.50-crore extension works at the grain market in Majitha. The extension work incorporates the expansion of existing 17-acre 'mandi' over additional four acres. Besides, strengthening of the infrastructure and construction of concrete raised platforms would also be undertaken.