JUDGMENT

1. Heard learned Counsel for the Petitioner and learned AGP.

2. Invoking jurisdiction of this Court under Article 226 of the Constitution of India, the Petitioner challenges the order passed by the Deputy Inspector General of Registration and Deputy Controller of Stamps, Pune Division, Pune dated 30/08/2019 which is at page 41 of the Petition.

3. Learned Counsel for the Petitioner invited my attention to the copy of lease deed dated 27/12/2015, more particularly clause 2.1 thereof and submits that the lease was for a period of 10 years. He then invites my attention to the paragraph 2.3 which says that it is mutually agreed by and between the parties that the Lessee shall have the option of renewing the lease for a further period of 3 years by issuing a notice to the Lessor. According to learned Counsel lease effectively therefore is for a period of 10 years. Hence, for the purposes of sub-clause (ii) of Article 36 of Schedule I of Maharashtra Stamp Act, proper stamp duty would be on 25% of the market value of the property. However by the impugned order, the authorities below have determined the stamp duty payable on 50% of market value of the property applying sub-clause (iii