• Law also to regulate functioning of property dealers
  
• Stamp duty decreased to five per cent
  
• Second car may be given to Ministers

The Haryana Vidhan Sabha passed five Bills on Tuesday, the second day of the ongoing monsoon session.

The Haryana Regulation of Property Dealers and Consultants Bill, 2008, presented by Minister of State for Revenue Savitri Jindal, was passed after amendments in clause 17(1) and 17(2). The Bill relates to regulating the functioning of property dealers, property consultants and estate agents to protect the interests of persons using their services.

After enforcement of this Act, no property dealer or his representative partner or any employee without obtaining a licence shall enter into a transaction of sale, purchase, exchange, letting or taking on lease between the buyer and seller, lessor and lessee, landlord and tenant, including collection of rent in respect of immovable property, with anybody in any manner.

Further, no property dealer or his representative, partner or any employee shall purchase, directly or indirectly, any immovable property for which he had received or is likely to receive commission from the owner of such property except with prior permission of the collector.

The Bill further mentions that an application shall be made to the Collector for grant or renewal of a licence in the prescribed form accompanied by fee.

It further clarifies that any dispute arising between the property dealer and any of the parties to the deal under this Act or the rules framed there under shall be decided by the collector on an application made by the aggrieved person.

Any person who contravenes any provisions of this Act or any rule made there under will be punishable on first conviction with imprisonment and with fine which may be extended to Rs.50,000 on first conviction and from Rs.1 lakh to Rs.1.50 lakh in the event of second and subsequent conviction.

The Indian Stamp (Haryana Amendment Bill), 2008, was also passed. According to the Bill, the rate of stamp duty will be decreased from six per cent to five per cent on conveyance deeds and sale deeds.