The Registration and Stamps Department is expected to increase the values in both rural and urban areas this year but obviously by a different measure. Officials say the policy of revising land values at regular intervals is intended to reconcile the yawning gap between prevailing market values and low registration values, which tend to deprive the government of revenue that accrues through a rationalised system. The market values of lands are normally revised in August. Keeping their hardship in view, they say, the government should refrain from tweaking the values in these tough times. The revenue on account of registration charges plummeted during the COVID-19 crisis, and needless to say, the government is scouting for more money to flow into its treasury and an increase in land values is said to be given a serious thought.

Source: The Hindu July 03, 2021 16:52 UTC