The supreme court Judgment by Bench consisting of JUSTICE R.V. Raveendran, JUSTICE A.K. Patnaik, JUSTICE H.L.

Gokhale in their Judgment in case of Suraj Lamp Industries (P) ... vs State Of Haryana & Anr. Decided on 11 October, 2011, regarding GPA sales in para 19 of its judgment says like this In several States, the execution of such development agreements and powers of attorney are already regulated by law and subjected to specific stamp duty. Our observations regarding `SA/GPA/WILL transactions' are not intended to apply to such bonafide/genuine transactions.

SEE FULL JUDGMENT IN http://www.scribd.com/doc/68727671/Sale-Transactions-by-Gpa-Does-NotConvey-Title

The karnataka act regarding GPA is amended in 2009 amendment and subsequently which runs like below. The gpa sales is regulated by law, to avoid stamp duty evasion and illegal transaction. Hence the observations of Supreme Court does not apply to the transactions as done using the below provisions of law by paying full stamp duty and consideration vide GPA.

Art. 41. Power of Attorney - (as defined by Section 2(1)(p) not being a proxy1 (a) when executed for the sole purpose of procuring the [One hundred registration of one or more documents in relation to a single rupees] transaction or for admitting execution of one or more such documents; (b) when authorising one person or more to act in a single 2[One hundred transaction other than the case mentioned in clause (a); rupees] 3 (c) when authorising not more than five persons to act [One hundred jointly and severally in more than one transaction or generally; rupees] 1. Substituted for the words "ten rupees by Act No. 7 of 2000, w.e.f. 1.4.2000. 2. Substituted for the words "Twenty rupees" by Act No.10 of 1990, w.e.f. 1.4.1990 3. Substituted for the words "Forty one rupees" by Act No.10 of 1990, w.e.f. 1.4.1990 (d) when authorising more than five 1[Two hundred rupees] but not more than ten persons to act jointly and severally in more than one transaction or generally; 2 [ (e) when given for consideration The same duty as a conveyance [ under Article 20(1)] on and or when coupled with interest consideration or on market value of the property (which is and authorising the attorney to sell the subject matter of such power of attorney) whichever is any immovable property;

higher..
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(ea)xxxxxx

[Provided that the duty paid on such power of attorney is adjustable towards the duty payable on agreement for sale under Article 5(e) or intrument of sale or as the case may be,executed between the same parties and in respect of the same property.] 4 [xxxxxxx]

Explanation 1

Provided that, when proper stamp duty is paid under "clause (e), or clause (f) of the article 5, as the case may be, on such agreement or records thereof or memorandum of (1) The expression "Lease" shall mean a holder of a lease, for a period an agreement executed between the same parties and in exceeding thirty years or more or in respect of the same property, the duty chargeable under perpetuity or does not purport to be these clauses shall be as per article 41(f)". for any definite term. (2) The expression "building" shall mean a building having more than one apartment or flat or office accommodation or portion of a multistoried building or both. 1. Clause (e) substituted by Act No.9 of 2009 w.e.f. 1-4-2009., 2. clause (e) and (ea) substitued by Act No.9 of 2009 w.e.f 1-4-2009., 3. Substituted by Act No.16 of 2011, w.e.f. 1.4.2011 4. Clause (ea) omitted by Act No.16 of 2011, w.e.f.1-4.-2011 Description of Instrument Proper Stamp Duty 1 (eb) When given to person other than the father, mother, 2[3[The same duty as a conveyance wife or husband, sons /daughters, brothers, sisters in under Article 20(1) on the market relation to the executant authorising such person to sell value of the property which is the immovable property situated in Karnataka State. subject matter of power of attorney. 4 [ Provided that the duty paid on such power of attorney is adjustable towards the duty payable on agreement for sale under article 5(e) or on the instrument of sale or transfer,as the case may be, executed between the same parties in respect of the same property.] 5 [(f) When executed by a principal or client for the sole 5[Rupees fifty] purpose of authorizing the agent or broker to carry out all lawful acts and deeds relating to his/her trading operations inlcudeing sale/purchase of marketable securities, transfer of securities towards stock exchange, receiving/ releasing funds and securities from/to other parties on behalf of the principal or client.
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[(g) When executed by a principal or client for the sole purpose of authorizingthe depository participant to carry 5 out all lawful acts and deeds relating to his/her demat [Rupees fifty] account as per the bye-laws of the depositories/regulations governing such operations. 6(h) in any other case.
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[Two hundred rupees.]

N.B. - The term "Registration" includes every operation incidental to registration under the Registration Act, 1908 (Central Act 16 of 1908). Explanation - For the purposes of this Article more persons than one when belonging to the same firm, shall be deemed to be one person. 8 Act. 42. Protest of Bill or note, that is to say, any [Ten rupees.] declaration in writing made by a Notary Public or other person lawfully acting as such, attesting the dishonour of a bill of exchange or promissory note. 1. clase (eb) Substituted by Act No. 6 of 1999, w.e.f. 1.4.1999. 2. Substituted for the words" eight rupees" by Act No. 7 of 2006 w.e.f 1-4-2006 3. Substituted for the words "seven fifty paise" for every one hundred or part there of by act No 20of 2009 and shellbe deemed in to have come force w.e.f.4.6.2009. 4. Substituted by Act No 16 of 2011, w.e.f. 1-4-2011 5..Clauses (f) and (g) inserted by Act no. 16 of 2011,w.e.f. 1-4-2011 6.Clause (f) renumbered as clause (h) by Act no. 16 of 2011, w.e.f. 1-4-2011 7. Substituted for the words "one rupees" by Act No. 9 of 2009, w.e.f. 1.4.2009 8. Substituted for the words "Five rupees" by Act No. 10 of 1990, w.e.f. 1.4.1990