THIRUVANANTHAPURAM: The Registration Department is gearing up to launch a special drive to identify cases of undervaluation in the sale of apartments. This is in the backdrop of the finding that several flats in the controversial apartment complexes at Maradu in Kochi were grossly undervalued while registration.
“The National Informatics Centre (NIC) is developing an online system in which officers would record details of offenders. The system would be ready in two weeks following which notices will be sent to the defaulters,” said A Alexander, Inspector-General of the department. The preliminary assessment by the sub-registrar offices has found that there would be a huge number of undervaluation cases in the sector of apartments and commercial buildings.
Check your status
The Registration Department is offering an online facility for people to check whether they are booked for undervaluation. For this, one has to log on to www.keralaregistration.gov.in/pearlpublic to check the status. You have to select the district, sub-registrar office and enter the document number and year of registration to know whether you have been identified as a defaulter.
Officials advise all those who have acquired any type of property since 1986 to check whether they have been booked. Not just sale deeds, all other types of transactions like settlement deeds or gift deeds would also be booked for undervaluation.
Since the initial notices are sent through ordinary post, there are chances that they might have gone missing. Address change of the buyer may also play villain. Only the show-cause notice for revenue recovery and further communications are sent through registered post. The compounding scheme is for deeds registered between 1986 and March 2017. But information on undervaluation cases after March 2017 is also available on the website.
Revenue recovery
The department is speeding up steps to recover penalty from the offenders in around five lakh undervaluation cases identified already. They include different types of property and different types of deeds like sale deed, gift deed or settlement deed. The office said the defaulters would face revenue recovery if they fail to pay the fines. “The government is offering an attractive compounding scheme in which the defaulters can legitimise the deal by paying just 30 per cent of the additional stamp duty. Also, they are exempted from paying additional registration fees,” Alexander said. Undervaluation cases in which the additional stamp duty is below Rs 5,000 were earlier exempted from penalty.
Digging up dirt
Preliminary assessment indicated existence of a substantial number of undervaluation cases with regard to apartments and commercial buildings
Online facility will be provided to people to check whether they have been booked for undervaluation
One has to log on to www.keralaregistration.gov.in/pearlpublic to check the status