Section 3(8) in West Bengal Stamp (Prevention of Undervaluation of Instruments) Rules, 2001
(8)On the basis of enquiries, court decision, information, report or records referred to in sub-rule (7), as the case may be, the registering officer shall ascertain the market value of the property and shall pass an order in writing to that effect in Form I, Form II, Form III or Form IV, as the case may be. and if he finds that the market value of the property is more than that has been set forth in the instrument referred to in sub-rule (2), he shall keep the registration of the document in abeyance and shall issue notice in Form V communicating the person by whom the stamp duty is payable under section 29, or his authorised agent, or authorised advocate the amount which he believes to be the market value of such property and calling upon him to make payment of the deficit amount of stamp duty within the period of thirty days from the date of receipt of such notice. The registering officer shall record the particulars of such documents in Form VA.
