[Value of immovable property.
48K. The value of any immovable property for the purposes of sub-section (1) of section 269UC shall be, where the agreement for transfer prescribed under the said sub-section-
(a) is entered into, on or before the 31st day of July, 1995, the apparent consideration of that property exceeding 10 lakh rupees;
(b) is entered into, after 31st day of July, 1995, the apparent consideration of that property as specified in column (3) of the Table below :
|
Sl. No. |
Area within which the appropriate
authorities shall perform
their function |
Value of any immovable property
for the purposes of sub-section
(1) of section 269UC |
|
(1) |
(2) |
(3) |
|
1. |
The area comprised in Greater Bombay as notified vide SO 480(E), dated 7th August, 1986 |
The apparent consideration of the property exceeding Rs. 75 lakhs. |
|
2. |
The area comprised in the Union territory of Delhi as notified vide SO 480(E), dated 7th August, 1986 |
The apparent consideration of the property exceeding Rs. 50 lakhs. |
|
3. |
The area comprised in Calcutta Metropolitan Area and Madras Metropolitan Planning Area as notified vide SO 480(E), dated 7th August, 1986 |
The apparent consideration of the property exceeding Rs. 25 lakhs. |
|
4. |
The areas comprised in Bangalore Metropolitan Region and the areas declared as Ahmedabad Urban Deve-lopment Area and the areas comprised in the city of Ahmedabad as notified vide SO 835(E), dated 21st September, 1987 |
The apparent consideration of the property exceeding Rs. 25 lakhs. |
|
5. |
The areas comprised in the City of Pune as notified vide SO 339(E), dated 8th May, 1989 |
The apparent consideration of the property exceeding Rs. 25 lakhs. |
|
6. |
The areas other than those mentioned at Sl. No. 5 above and notified vide SO 339(E), dated 8th May, 1989; SO 53(E), dated 19th January, 1990 and SO 180(E), dated 14th March, 1991 |
The apparent consideration of the property exceeding Rs. 20 lakhs.] |
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