Value of Land
Land depicts two values in India. One is the actual prevailing market price of land and the second is the value shown in documents for stamp duty purpose. The stamp duty rate varies from 1/5 to 1/10 of actual market price depending on the area. There should be only one value for land that is the market rate. That should be shown in documents also.
This will increase stamp duty income of State. This will reduce the shooting price of land. This will stop investment of black money in land. Over and above all the common man will no longer face housing problem. This should be implemented, the sooner the better. more
This will increase stamp duty income of State. This will reduce the shooting price of land. This will stop investment of black money in land. Over and above all the common man will no longer face housing problem. This should be implemented, the sooner the better. more
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The Agreement Value of open Market Rate is considered by Banks while as the Regd. Sale Value is based on the Govt. diclared market Rate. The value inbetween is avoided for Stamp Duty and Regn. Fee. more
Mar 03
THOUGH IT IS THE OPEN SECRET AND A KNOWN FACT TO ALL, GOVERNMENTS SHALL WORK ONLY ON THE REASONABLE VALUE OF THE LANDS THAT ARE TO BE AVAILABLE TO ALL THE PEOPLE. THE ISSUE OF TAX AVOIDANCE & EVASION IS ALSO KNOWN TO ALL. THIS WILL BE CONTROLLED IF CURRENCY OF ABOVE Rs.100/- IS REMOVED AND PAYMENTS THROUGH BANKS, BANK CARDS ETC., INTRODUCED. HERE IS ANOTHER ISSUE ENTERTAINED BY ALL THE BANKERS TO FINANCE LOANS BASED ON LAND AGREEMENT VALUES. They collect the Registered Sale Deed of a lesser value of the Proprty to be Financed. THIS IS ALSO ALLOWED BY THE GOVERNMENTS. EITHER THE TRANSACTION TAX SYSTEM OR , THAT OF ENTERTAINING ONLY BANK TRANSACTIONS FOR ALL ABOVE Rs.200O/- WITH INTER CONNECTION TO AADHAAR CARD , WILL PROPERLY MAINTAIN ALL THE TAXES OTHR THAN REGISTRATION DUTY & FEE. BUT, EVEN AFTER THIS , UNLESS THE BANKS ARE ADVISED TO HONOUR ONLY THE VALUES OF THE REGISTERED DOCUMENTS, THIS ADOPTION OF AGREEMENT VALUE FOR ENTERTAINING WILL NOT BE STOPPED. BUT, THIS IS ALL OPENLY MAINTAINED ONLY TO CATER THE BASIC RESIDENTIAL NECESSITIES OF THE PEOPLE. BUT, THIS ISSUE IS BEING USED FOR ALL LANDS FROM AGRICULTURAL LANDS TO INDUSTRIAL/BUSINESS AND RESIDENTIAL. more
Mar 03
Dear Govindji, If a person owns 10 cents of land with a 2000 square feet house in it and spent about Rs.50 lacs for it, how can the Government come one fine morning and say that they own it and the occupant has right for it only for 25 years?. What you say can be done if Government spends its own money and provide land and housing for all and give it on lease for 25 years. In that case Government can evict anybody and provide him with alternate land and house. more
Mar 03
Every buyer will be forced to show the amount he actually pays for the land in his document also, if the entire payment is through bank only. No big denomination notes will be available for payment. Then we can come to what I have said. The market value will appear in the document also and stamp duty will be as per that amount. more
Mar 03
There is no recoded evidence to show market value of any land. It is fixed by Brokers of the area with reference to development of the area, availability of various facilities, road condition, water/drainage availability, hospitals, hotels availability, nearness to mainroad, bus stop, petrol bunks etc. No government can gauge the vale, except to verify near by transaction which has been carried out some time back. Will this be true reflection? At present in Tamilnadu, the revision of Land value (Registration value) by Govt., in high raised style, has become counterproductive for middle class people who were buying since market value of such lands were fixed more than already hiked registration value. Hence some new device has to be found out to help middle class land buyers. more
Mar 02
