Kerala Real Estate Information

Friday, May 9, 2008

Land Registration Fare Value Draft published

Updated May 13 2008

Kerala Govt Published Draft for the Fare Value assessment for all areas. Not so surprisingly, the new fare value is not much different than the current value. In simple terms this means the future buyers are not going to pay any higher tax than one would pay today. The details of specific areas are yet to be known.

The information is expected to reach the registartion office in next few weeks. The State government notified the draft containing 15-lakh pages through a Special Gazette early this week.Fair value of land has been proposed for 1,452 villages in the State.

Several aspects have been considered for determining the value. Land in each village has been divided into 15 categories fixed by taking into account factors such as commercial importance; access to National Highway, State Highway and other major roads; facilities for water supply, electricity, transport and communication; and proximity to market, bus stand, hospital and educational institutions. Fundamentally, land across the State has been categorised as dry land, wasteland, wetland and garden land. Earlier, it was classified into just wetland and garden land.

The highest priced area is M.G Road Kochi. The assessed fare value for this area is 10 lakhs / Cent. The lowest is Rs 5000. As for, when this would be in effect is not known. I do not believe that bothers any one as it is going to be pretty much same as today.

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