BHUBANESWAR: In a move to boost land revenue and bring uniformity to valuation system, the state has rolled out a comprehensive framework for fixation of market value of immovable property with particular focus on urban areas and roadside plots as well as land adjacent to national and state highways, project areas and commercial plots.
As per the new framework prepared by the Revenue and Disaster Management department, the market value of immovable properties must be revised once every two years and implemented with effect from April 1 of the biennial year.
The revised market value standard operating procedure will form the basis for stamp duty and registration fee collection, a key source of revenue for the state.
The move is expected to avoid delays in revision, ensure that property values reflect ground realities, especially in rapidly urbanising and infrastructure-heavy zones.
In order to operationalise the revision exercise, the government has prescribed the constitution of valuation committees at both district and sub-district levels within a fixed timeline.
The SOP has stressed on meticulous collection and analysis of field-level data. Land registering officers and tehsildars have been directed to furnish sale statistics and land-related data to the valuation committee in prescribed formats for both urban areas and rural areas.
“Tehsildars have been tasked with guiding revenue inspectors to ensure accurate and exhaustive field data collection. They will ensure that all revenue plots of each village are included in the database with no omissions or duplication of plot numbers,” said a revenue department officer.