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5.4. The learned counsel for the petitioners would further add that the documents ought to have been impounded and referred to under Section 33 or 47-A of the Indian Stamp Act, 1899 on the contrary if the registering authority has reason to believe that the value has not been truly set forth in the instrument, he shall register such instrument and thereafter refer the same to the Collector for determination of market value of such property and proper duty payable thereon. Such a procedure has not been followed in the instant cases and hence, the orders impugned in the writ petitions cannot be sustained in the eye of law.

29. It is relevant to note here that the guideline value is only a guiding factor and it cannot be the real value or in other words, the guideline value fixed by the registering department is not final but only a prima facie rate prevailing in an area. The term “market value” has not been defined in the Indian Stamp Act, 1899. It is, however, settled law that 'market value' of the property shall be estimated to be the price which such property would have fetched or would fetch if sold in the open market on the date of execution of any instrument. The guideline value fixed by the registration department, as already stated, is not final it is only a prima facie rate prevailing in an area. It is always open to a person seeking registration of a instrument to prove actual value of the property in the particular area which is the subject-matter of such instrument. The guideline values fixed and supplied to registration department were intended merely to assist them to ascertain prima facie whether the market value has been truly set forth in the instrument. The guideline values of the properties cannot be taken as substitute for market value or the guideline values will not foreclose the enquiry of the Collector under Section 47-A of the Act. The guideline value are prepared based on data gathered broadly with reference to classification of lands, grouping of lands and the like. Therefore, the guideline value fixed by the authorities cannot beheld to be the exact market value. https://www.mhc.tn.gov.in/judis 29 of 37  W.P.Nos.28854, 28856 & 28857 of 2022