(4)Where a person, having contracted for the purchase of any property but not having obtained a conveyance thereof, contracts to sell the whole or any part thereof, to any other person or persons, and the property is in consequence conveyed by the original seller to different persons in parts, the conveyance of each part sold to a sub-purchaser shall be chargeable with ad valorem duty [in respect only of the market value of the part sold to the sub-purchaser, without regard to the amount of the market value of the whole property conveyed by the original seller; and the conveyance of the residue (if any) of such property to the original Seller; and the conveyance of the residue (if any) of such property to the original purchaser shall be chargeable with ad valorem duty in respect of the market value of such residue:] [This portion was substituted for the portion beginning with the words 'in respect only of the consideration paid by such sub-purchaser' and ending with the words 'Considerations paid by the sub-purchasers', by Gujarat 21 of 1982, section ll(4)(a).]Provided that notwithstanding anything contained in [article 20] [These word and figures were substituted for the word and figures 'Article 27' by Gujarat 21 of 1982, section 11 (4)(b)(i) w.e.f. dated 01-04-1982.] of Schedule I the duty on such last mentioned conveyance shall in no case be less than [one hundred rupees] [These words were substituted for the words 'eight rupee' by Gujarat Act 14 of 2006, Section 4 w.e.f. 1-4-2006.].
