The Kerala stamp act directs that the value of structures will have to be assessed centered on General public Get the job done Department’s rate and added even though registering title deeds. Earlier, this rule was designed required for flats and residences. Little by little, all properties besides palm-thatched huts are also brought less than this rule.
Representational picture: Akhil ES/Mathrubhumi
Thiruvananthapuram: The Kerala government purchased that benefit of properties should be offered on title deeds for all land transactions. As for every the rule, the land will be registered right after documenting the specific worth of the creating. But it is observed that no person is subsequent this rule. As the govt manufactured it obligatory to strictly abide by the rule for all land transactions, the registration section was benefited during the previous economic yr. Money from this also amplified revenue of the section.
The Kerala Stamp Act directs that the benefit of buildings will have to be assessed based on Public Do the job Department’s fee and have to be added while registering title deeds. Before, this rule was designed obligatory for flats and residences. Gradually, all buildings, apart from palm-thatched huts, have been introduced under this.
Permitted engineers will have to analyze the building and problem an analysis certification for finishing the land registration. With this, 8 per cent of stamp obligation and 2 per cent of the registration cost need to be compensated for properties through land registration.
Many years back, the governing administration had issued an purchase to make valuation certificate of PWD mandatory for land registration. But folks and officials ongoing to violate the rule. In some locations, the value of structures was marked as Rs 50 for each sq. feet on title deeds. Soon after noting this illegal apply, the registration division gave stringent directions to registrars. Subsequent this, land owners commenced to insert the specific value of properties though registering title deeds.
Complaints on determining worth of structures
In the meantime, numerous individuals have raised issues about assessing the benefit of properties on their land. While analyzing the rate, the age of the building will have to be regarded. From time to time, there is delay in estimating the benefit when the properties do not have the selection.
Engineers accredited by the registration section are refusing to challenge valuation certificates fearing action from the department around lapses. However the department recognized about 3000 engineers for this reason, only 800 are issuing these certificates.