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THE HIGH COURT OF KARNATAKA
MR. R. NATARAJ, J
SMT. NAINA SHETTY – Appellant
Versus
THE REGIONAL COMMISSIONER OF STAMPS AND REGISTRATION OF KARNATAKA – Respondent
| Table of Content |
|---|
| 1. ownership and valuation of property in dispute. (Para 1 , 2 , 3) |
| 2. contentions regarding market valuation and lease effects. (Para 4 , 8) |
| 3. legal stance of government representation on valuation. (Para 9 , 10) |
| 4. taxation principles for stamp duty and valuation definitions. (Para 11 , 12 , 13 , 14 , 15) |
| 5. final judgment and dismissal of writ petition. (Para 16 , 17 , 18) |
ORAL ORDER
2. The petitioner contends that the property measuring 01 Acre in Sy. No.3, plot No.258/B, B-1, khata No.299/1-258-B, Ward No.09, Bommasandra Industrial Layout, Kittaganahalli (stated as Kittamangala in the petition) village, Attibele Taluk, Bengaluru Urban District, was earlier part of a larger plot of land measuring 07 Acres and 1.85 guntas and belonged to Narayana Hrudayalaya Private Limited. The said 01 acre of land was leased to one Dr. K. Bhujanga Shetty for a period of 28 years from 01.07.2007 to 30.06.2035 in terms of a lease deed dated 10.07.2007 duly registered. The petitioner had agreed to purchase the said 01 Acre of leased property for a total sale consideration of Rs.50,00,000/- and presented a sale deed dated 08.07.2016 for registration.
4. Being aggrieved by the said order,
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