June 16, 2021 5:33:03 am
From now on, anyone can get to know the value of a property depending on the circle rate of the area by paying a fee of Rs 100 with the district magistrate. The move, according to the UP government, would minimise evasion of stamp duty by wrongly estimating the value of the property.
Speaking to The Indian Express, Ravindra Jaiswal, Minister of State (Independent charge) for Stamp and Registration, said, “There is already an arrangement in place to know the circle rate of the particular area online. But it was seen that in many cases, people found it difficult to do the exact assessment thus either ending up paying less or more. This new system would provide them with an additional way to know the exact value of their property… This will bring transparency in the system.”
The minister denied that one would require approval or permission from the District Magistrate before the sale or purchase of any property. “This system is optional and anyone who wishes to avail for their own good can do so. It is not binding on anyone. It’s just to help the people wherein before sale or purchase of their property if they wish to know their exact circle rate then they can get the details by paying mere Rs 100 fee,” the minister said. Officials said the idea is also to reduce the interference of middlemen in the system as the new system is expected to reduce the number of litigation of alleged evasion of stamp duty.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.