Wednesday, August 14, 2013

Delhi lifts ban on property transaction through GPA

Delhi government today lifted the ban on registration of property transactions involving general power of attorney (GPA) which is expected to provide relief to lakhs of residents living in group housing societies and unauthorized colonies. The Revenue Department issued a circular allowing registration of all GPA-based property transactions in the city with immediate effect. As per the circular, property transaction through GPA will be considered "legal" but it will not be considered as transfers of title for mutation of property. The order said transfer of property through general power of attorney and special power of attorney (SPA) by any registered property owner will be allowed in favour of "their spouse, son, daughter, brother, sister or any other relative or person of his trust to manage his property or empowering him to execute any further deed of transfer including conveyance, sale and gift deed".

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