INDORE: The district administration has initiated a process for mid-term revision of the collector’s guideline for property rates in Indore, which generates maximum revenue through the stamp and registrar department.
A district-level valuation committee, chaired by collector Asheesh Singh, discussed the proposed changes on Wednesday. The committee proposed increasing the guide value for property in 469 locations across the district. Additionally, 105 new colonies or locations have been proposed for inclusion in the valuation guidelines to set the collector’s guideline for property rates there.
During the meeting, the committee scrutinised the proposals presented by stamp and registration department regarding the increase in the guideline values for property in 112 locations by 0-10%, 190 locations by 11-20%, 77 locations by 21-30%, and 90 locations by more than 31%.
The administration has invited public to submit their suggestions on the proposed rate hikes by 3pm on Nov 4, 2024. After considering public feedback, the proposals will be forwarded to the Central Valuation Board in Bhopal for final approval.
The Bhopal-based central evaluation committee had approved an increase ranging from 20% to 100% in the collector’s guideline for property rates in approximately 2450 areas out of a total of around 5000 in March this year.
The revised guideline will have a direct impact on various property-related transactions including registration and stamp duty. The district administration has emphasised the importance of public participation in this process to ensure that the revised rates are fair and equitable.
The meeting was attended by MLA Mahendra Hardia, district registrar Amaresh Naidu, and other officials concerned.
Source Homevior.in
