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Fair price for land in Kerala
In a major step to curb stamp duty evasion during land sales, ‘fair prices’ for lands fixed by the Government is expected to come into force in Kerala from July. Work on the preparation of the draft fair prices for land in each locality is in progress, and would be published for public scrutiny on May 5, the State Minister for Registration, S. Sharma has said. Two months would be given for the public to give t
heir views, and the final notification would be issued by July, Mr. Sharma said.
Subsequently, stamp duty would also come down, he added.
This will also put an end to the practise of showing ‘lower price’ for land during registration, he said.
In another important reform in property transactions, registration of the sale agreement deed would be made compulsory. Necessary amendments would be made to the Registration Act, he said.
— PTI
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