The information what you heard that stamp duty is payable at 7% is a  right information. 

However you may pay stamp duty at the government guidelines value alone,  I.e. at circle rate.

You can show the  value of the property as per circle rate and not market value. 

There is no such fair market value price. Anything has to be calculated on circle rate. What people say and what even some legal professional SAY is opinion, not law   

It is calculated on circle rate as advised by lawyers 

visit the following website of Delhi govt 

https://www.myloancare.in/delhi-circle-rate-revised/

This link may help you.

Stamp

Duty

4

Stamp Duty is payable at the time of Registration of property if a property is acquired by way of Sale Deed/Conveyance Deed/Gift Deed :

a.   Male @ rate of 6% of the consideration amount or the circle rate of the property applicable in the area, whichever is higher.

b.  Female @ rate of 4% of the consideration amount or the circle rate of the property applicable in the area, whichever is higher.

Instead of posting various questions pertaining to same subject repeatedly and not finding an answer satisfying your question,  you may better engage the services of an advocate in the local who is into this field. 

Some answers you get from such forums may be misleading and you may not be able to find a solution to your problem. 

If you are really serious about solving the issue you may be practical to solve this problem. 

- if the property is being gifted to blood relatives. The Stamp duty and transfer duty @ 4% if the donee is a woman and @ 6% if the donee is a man of Circle rate in Delhi. 

- Further, Registration fee is 1% of the total value+Rs.100/- pasting charges.

You can contact Mr Mohammed personally through the website 

I have already given link regarding stamp duty charges  in Delhi 

I have replied to your query with link in support of my reply 

The citation referred by you states that the Delhi High Court has held that under section 47A of the Indian Stamp Act, 1899, circle rate is not the only factor to determine the value of a property and provided a list of other factors for valuing the property.

The court also observed that on the basis of the circle rate the Registering Authority can, at best mechanically determine the valuation of the instrument, but whenever dispute arises, the exact market valuation, ought to be arrived at, by the collectors ad mandated by section 47A of the Act. 

Therefore it is clear that in general, until and unless there's a dispute in this regard, the stamp duty shall be collected at the circle rate which would as per government guidance.

If your property is not involved in any dispute you need not be worried about a non existing aspect.

You cannot dictate terms to the lawyers who provide their best opinion here in this forum at free of of cost.

The charges you pay for questions here are not to the advocates who spare their valuable time in giving the opinions to their possible best.

If you would like to get more proper clarification and opinions to satisfy you, then you can contact any advocate of this forum privately.

Be aware that you cannot get a precise and perfect answer or solutions to the queries you post in the forums like these.

Your worries about the society's intricacies or concern about the children and grandchildren of the legal fraternity may not be seen in the true sense of what you are up to.

Well your comments on eminent advocates of this forum namely: 

You guys, although professionals, do not read latest court judgements & give random, outdated opinions that have no basis in law or case law. 


Why do you give assertions on subjects & matters you cannot provide supporting legal documents for?



Cannot be taken in any right sense as what you described yourself in the subsequent post.
The lawyers and expert advocates of this forum are rendering their services at free of cost just for the purpose of rendering their service to this community/society.
The advocates here are not sitting idle and waiting to give their best opinions by wasting their valuable time, hence you may kindly refrain from making any such adverse comments against the advocates. 
You cannot expect the opinions suiting to your taste from all the advocates. 

Thanks for your clarifications.

Hope you understood the concept and the rationale behind my explanations and reasons stated in my previous post.

Let us not stretch this issue any further, thanks once again.

I agree with you 

lawyers should do research before posting replies 

Thanks for your appreciation