Notwithstanding section 37, where, in connection with, or in contemplation of, a sale of property, or an exchange of property within the meaning of section 37, as the case may be, the vendor, or the transferor, as the case may be, enters into -

(a) an agreement for the grant of a lease of the property for a term exceeding 35 years, or

(b) an agreement (other than a contract for the sale of the property) under which the vendor, or the transferor, as the case may be, grants any other rights in relation to the property,

any conveyance or transfer, subject to the agreement, of the property by the vendor, or the transferor, as the case may be, shall be charged to stamp duty as a conveyance or transfer on sale of the property for a consideration equal to the value of the property and the value shall be determined without regard to the agreement.