“Preparation of current annual stamp duty rates for the coming year”

SRINAGAR: Divisional Commissioner Kashmir Pandurang K Pole urged the Kashmir Division deputy commissioners on Saturday to maintain the existing stamp duty rate on the land and not change the current rate.

He chaired a preparatory meeting for the revision of the guidelines and rules of the market value and the revision of the rates for the coming calendar year 2022. The process of preparing the annual stamp duty rates is underway for the year to come into the Kashmir division.

He said covid has affected the economy and slowed growth, which requires maintaining the current rate of the stamp duty.

However, he requested the correction of aberrations or any discrepancies in the previous rate schedule and the elimination of variations, if any, in a village or area.

In addition, he requested to include the areas in the list of rates for the coming year that were omitted or missing from the previous list when preparing the market value and stamp duty.

During this time, he also inquired with district officers about the rewards of land acquisition from the NHIA under the new law, multiplication rate, solatium and other financial values.

With the exception of the deputy commissioners of Ganderbal, Pulwama and Shopian who had not proposed any changes to the stamp duty for the coming year from January 2022, other deputy commissioners had suggested a 2-5% increase. the rate of stamp duty. However, Div Com said the rate should be commensurate with the economy and insisted that there would be no change in the existing stamp duty rate.

The meeting brought together all DCs from the Kashmir Division, Chief Conservator of Forests; Additional Inspector General of Registration; Chief Engineer, R&B; Chief Urban Planner, Kashmir; Regional Director of Surveys and Land Records; Deputy Commissioner Stamps; Co-Director Agriculture, Kashmir; and other officers.

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