Stamp Duty Must Be Payable as per Market Value at Time of Registration: Madras High Court

The Madras High Court held that stamp duty for property registration must be calculated based on the market value prevailing at the time of registration, not on the date of the sale agreement.

The Division Bench set aside a single judge's order that directed registration based on the older guideline value.

The Court clarified that a sale agreement does not confer ownership; the title passes only upon execution and registration of the sale deed.

Accordingly, the sub-registrar was directed to initiate proceedings under Section 47A of the Indian Stamp Act to assess and collect stamp duty as per the current market value.