Govt. eyes additional revenue
The Hindu
With revision of rates, about ₹300 cr. more a month likely from Registration dept.
The State Government is expecting an additional revenue of ₹300 crore to ₹400 crore a month from the Registration and Stamps department with the revision of market values of different kinds of properties.
The government has given its go-ahead for the proposals submitted by the Registration and Stamps department. The revised market values of lands including agricultural lands, open plots and apartments will come into effect from Tuesday.
According to revised rates, market value of lands ranging from ₹75,000 an acre to ₹ 5 crore an acre will be enhanced by 50 per cent. It will be 20 per cent for lands beyond ₹ 5 crore an acre and 10 per cent in case of those beyond ₹10 crore an acre.
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