Section 147 in Reductions and Remissions (Andhra Pradesh)
147.
Reduces the stamp duty payable under Article 6(B) of Schedule IA of the Indian Stamp Act, 1899 in respect of documents relating to Agreements or Memoranda of Agreements of Sale or Construction/Development of immovable properties combined with General Power of Attorney clause to 1% on the sale consideration shown in the document or the market value of the property as per the Basic value guidelines maintained by the Registration and Stamps Department or estimated market value for land and complete construction made or to be made in accordance with schedule of rates approved by Commissioner and Inspector General of Registration and Stamps under Rule 4(2)(d) of the Andhra Pradesh Revised Market Value Guidelines Rules, 1998 from time to time, whichever is higher, subject to the condition that the 1% stamp duty paid on such documents shall be adjusted against the stamp duty payable on sale deeds to be registered at a later date, in pursuance of such Agreements of Sale cum General Power of Attorney. [vide G.O. Ms. No. 1475, Rev. (Regn.I), Dept. Dated 30.7.2005 & Substituted by G.O. Ms. 1481, Rev. (Regn. I), Dated 30.11.2007].
