Article 23A Of Schedule I-A Of Stamp Act Applies To Agreements To Sell Under Section 53A Of Transfer Of Property Act: Delhi High Court

The Delhi High Court recently ruled that Article 23A of Schedule IA of the Indian Stamp Act applies to agreements for the sale of immovable property under Section 53A of the Transfer of Property Act. This decision emphasizes that such agreements, intended to convey property rights, must adhere to the same stamp duty requirements as other property transactions, regardless of their nature or the stage of the transaction. This ruling clarifies the applicability of stamp duty provisions, ensuring that agreements falling under Section 53A are not exempt from stamp duty obligations.