(2)after section 28A, a new section 28B shall be inserted, namely:-"28B. valuation of Flat/Apartment. - Notwithstanding anything contained in this Act, -(i)an instrument transferring land including flat/apartment, chargeable with duty, shall fully and truly set forth the value of the flat/ apartment therein. For this purpose, the party executing the instrument shall furnish a valuation certificate of the flat/apartment conforming to the criteria approved by the Central Public Works Department tor determining value of flat/apartment, issued by a competent authority, to be authorised by the Government, by notification in the Official Gazette, to perform such functions as may be specified by Government in that behalf;(ii)the registering officer shall, before registering an instrument mentioned in clause (i) shall verify that it is accompanied by the valuation certificate issued by the competent authority and ensure that the value of such flat/apartment set forth in the instrument is not less than the value assessed by the competent authority."
