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The new valuation will be completely based on actual market rates. Meanwhile, land prices have increased manifold in Rohtas district but registration is being done at old rates.
Rohtas. If you are planning to buy or sell land in Rohtas district, then postponing it may prove costly for you. The state government is soon going to make a big change in the circle rate of land registry. After its implementation, the cost of registration may increase by two and a half to three times, in such a situation it will be beneficial to complete the registration in the remaining time.
The Prohibition, Excise and Registration Department has instructed all the sub-registrars of the district to conduct a comprehensive review of the market value rate. For this, the process of calling a meeting of the District Evaluation Committee has started so that the determination of new rates can be expedited.
Dehri’s Under Registration Officer Yogesh Tripathi said that the circle rate of land in many areas of the subdivision is still much less than the actual market value. Due to this, the stamp duty and registration fees charged on registry remain less. As soon as the new MVR is implemented, the registry fee may increase by 30 to 100 percent.
price determined on this basis
There are many areas of Dehri subdivision where this difference is even more pronounced. Local people say that despite buying and selling of land at the old rates, the rising prices are increasing the economic pressure.
Valuation of land will now be different in urban and rural areas. As per the instructions of the department, the price will be decided considering the development in roads, markets and other basic facilities. For this, a zone-wise committee will be formed which will conduct a survey at the Panchayat level and prepare a report. After investigation by the Circle Officer, this report will be sent to the District Evaluation Committee where the final decision will be taken.
Registration should be done at old rates only.
Experts say that the new valuation will be completely based on actual market rates. In Rohtas district, the MVR of rural areas has not been updated since 2014 and that of urban areas since 2016. Meanwhile, land prices have increased manifold but registration is being done at old rates, which is affecting the revenue collection of the government.
In such a situation, this time is very important for people buying and selling land. Experts are advising to complete the pending registration process soon so that increased fees can be avoided after the implementation of the new MVR.
