45A. [ Instrument not bearing stamp of sufficient amount as per fair value of land how to be dealt with. [S.45 A. Omitted by Act 16 of 1991 published in K.G.Ex. No. 506 dated 11-4-91 and inserted by Act 19 of 1994.]
(1)Notwithstanding anything contained in this Act, the registering offi cer shall, while registering an instrument transferring any land, other than an instrument of partition, settlement or gift among the members of a family, chargeable with duty verify whether the value of land or the consideration set forth in the instrument is the fair value of that land.(2)Where on such verification, the registering officer is satisfied that the value of the land or the consideration set forth in the instrument is not less than the fair value of the land, he shall duly register the instrument,(3)Where, on verification the registering officer finds that the value of the land or the consideration set forth in the instrument is less than the fair value of the land fixed under section 28A, he shall, by order, direct the payment of proper stamp duty on the fair value of the land fixed under section 28A within a period of seven days from the date of the order and on payment of the deficit stamp duty, the instrument shall be duly registered.(4)Any person aggrieved by an order under sub-section (3) may, within thirty days from the date of that order, appeal to the collector within whose jurisdiction the land is situate.(5)The Collector shall hear and dispose of the appeal in such manner as may be prescribed by rules made under this Act in that behalf and his decision thereon shall be final.]
