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Stamp duty rates in Jammu division to go up for year 2022, meeting held

Last Updated on December 13, 2021 at 10:35 pm

Revision of Stamp duty rates for year 2022 for Jammu Division was discussed during a meeting by Divisional Commissioner Jammu, Dr Raghav Langer with Deputy Commissioners and senior officers.

Div Com was informed that the preparation and revision of market value guidelines as per SRO 303 2011 and SRO 221 of 2018 by the Finance Department have been initiated.

Threadbare discussion was held on various functions of Divisional Valuation Board and its function. The Divisional Valuation Board will analyze the circle rates of land/ market values proposed by the district valuation Committees and grant the final approval so as to notify the market value guidelines for different areas such as general Value of house sites, type and structure of buildings, classification of land, stamp duty rates etc the meeting decided.

While reviewing the district wise revision of Stamp Duty rates, Deputy Commissioner Doda informed the meeting that the district administration has proposed increase of value over the current year; of residential plots from 33.3% to 73.16% and Commercial plots from 52.38% to 163.74% in urban area, while in rural areas it is average 10%to 40 %.

Deputy Commissioner, Rajouri informed that in urban areas the proposed increase in value of residential plots is 5 to 6% and Commercial plots is 6 to 7.5%.

For district Udhampur, the proposed increase in value of residential plots is 2% and no increase in Commercial plots, while in rural areas it is an overall increase of 5 to 8% across all types of land. For District Kishtwar, the increase in value of land in Urban and Rural areas is roughly 3%.

In district Ramban, the value of all urban land is 10% and in rural areas it is 5%. Increase of residential value as well as commercial plots is 5% and in rural areas it is 7 to 30%, was informed in the meeting.

For Poonch urban areas, the proposed increase value is 11 to 14 % and rural area is 3 to 34 %, the Chair was informed by Deputy Commissioner, Poonch.

The proposed value of residential as well as commercial buildings in Reasi is proposed to be hiked upto 4 to 5% and in the rural areas upto 6 to 36%, was informed by Deputy Commissioner Reasi.

The Divisional Commissioner directed all the officers for personally reviewing the process of Market valuation to finalize the stamp duty rates for the year 2022 of Jammu division.