The finance department of Rajasthan on July 10th ,2024, issued the Rajasthan Stamp (Amendment) Rules 2024, to further amend the Rajasthan Stamp Rules 2004.
The amendment includes the following:
Existing Rule 57 of the Rajasthan Stamp Rules 2004 is substituted with a new rule stating, Facts Affecting Duty To Be Set Forth In The Instrument, conveying the following points :
- Full Disclosure: Any document subject to stamp duty must truthfully disclose all relevant facts affecting how much duty should be paid.
- Property Valuation: When valuing immovable properties, we consider the separate values of the land itself and any buildings on it, using their respective market rates.
- Role of Registering Officer: The officer in charge of registering documents can check the accuracy of property details mentioned in the document. They may inspect the property or send someone else to do so.
- Government Inspections: The State Government can authorize officials or others to inspect properties to verify their details for stamp duty purposes. They can specify how inspections are done, including using electronic devices.
- Standard Information Form: The Government can require a standard form to be filled out with specific details about the property. When filled out correctly, this form becomes part of the official document.
The Rules will come into effect from July 10th 2024.
