Mangalore: Land Valuation Revised – Shell Out More for Property Registration

Daijiworld Media Network – Mangalore (SP)

Mangalore, Apr 15: The government has ordered revision of value of landed properties located in Dakshina Kannada and Udupi districts. The revised values, which will be taken into account while calculating registration charges, will come into effect from April 18.

Henceforth, people living in Udupi and Dakshina Kannada districts, who want to register sites, land, houses, etc., will have to shell out registration fee on the basis of the revised values. This will be considerably higher than before.

The valuation sub committees, which are chaired by the local tahsildars, and of which the sub registrar is the secretary and officials of PWD and survey departments are members, decides the values and publishes the same for getting reaction from the people. If no objections are received, the rates are finalised without any change. 

In case of sites in the city, revised values have been worked out at 50 percent higher than the government rate. In the case of apartments, there will an increase of Rs 30 per square feet. The government however, has not yet announced revised market value of independent houses.

Till now, registration fee was being paid on the basis of the values announced in 2008. The government, realizing that it is losing revenue on account of registration of properties for less consideration than what was agreed upon between the buyers and sellers, has announced the revised values. The new value, or the actual purchase consideration as mentioned in the documents, whichever is higher, will henceforth be taken as the basis for calculating registration fee. This will result in increased revenue for the state government.

Separate rates have been fixed for buildings based on whether they are sites, apartment complexes, commercial complexes, etc, and again, whether the flooring is of granite, marble, ceramic, red oxide, etc. The rates also depend on the areas and roads on which the properties are located. The list of values will be posted on the website, which will be available to the general public for reference with effect from April 18.