Stage set for revision of land and registration values across the State
The State is set to revise land values and registration rates, effective May 28, to increase revenue by ₹1,200 crore to ₹1,500 crore. Agricultural lands may see increases of up to 100%, while apartments will have a maximum rise of 20%. This revision is based on a comprehensive study of market values and demand in various areas, aiming to align government values with actual market prices.
- ▪The revision is expected to come into effect from May 28.
- ▪Agricultural lands may see a rise of up to 100% while apartments will have a maximum increase of 20%.
- ▪The government aims to increase revenue from ₹15,251 crore to projected estimates of ₹19,087.26 crore through the Registration and Stamps department.
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The stage is all set for revision of land values and registration rates for different categories of properties across the State.The revision, likely to come into effect from May 28, is aimed at mopping up additional revenue of ₹1,200 crore to ₹1,500 crore. Agricultural lands and open plots will see a rise of up to 100% once the revision is effected while the enhancement of rates of apartments/flats is subject to a maximum of 20%.According to senior officials, market value of the open plots as well as the construction value has been adopted as the basis for calculation of revised registration values for agricultural lands and villas/independent houses.
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