Undervaluation of documents: Settlement scheme open till December 31

Published: 20th December 2012 10:36 AM  |   Last Updated: 20th December 2012 10:36 AM   |  A+A-

The government scheme of one-time settlement of cases in the undervaluation of documents registered will be open till December 31.

The documents registered between 1986 and March 31, 2012, will get the benefit under the scheme.

 The properties, which are less than five cents of area in panchayat limits, have been exempted from paying the amount. Amounts of Rs 1,000 and Rs 2,000 have to paid respectively for five cents of land in the municipal and corporation limits.

The properties between five and 10 cents have to pay Rs 1,000 in panchayats, Rs 3,000 in municipalities and Rs 5,000 in corporation limits. 

In cases pertaining to properties between 10 cents and 50 cents, the rates are Rs 2,000, Rs 5,000 and Rs 10,000 in panchayat, municipality and corporation limits respectively.  If the land in question exceeded 50 cents, six per cent of the stamp duty paid earlier or Rs 12,000, whichever is higher, will have to be paid for settlement in corporation areas.

In municipal areas, four per cent of the duty paid earlier or Rs 7,000, whichever is higher and in pachayats, the amount payable will be two per cent of the duty paid or Rs 3,000, whichever is higher.

The District Registrar Office had already sent notices to respective persons.  Those who get the notice can remit the money at the Sub-Registrar Office and those who cannot remit it in person can send a DD in the name of District Registrar (General). 

The government has said that legal action, including revenue recovery, will be initiated against those who fail to remit the amount.

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