Annual stamp duty rates preparation underway for upcoming year in Kashmir Division

Srinagar, Dec 4: Divisional Commissioner Kashmir Pandurang K Pole on Saturday emphasized to the Deputy Commissioners of Kashmir Division to continue the existing stamp duty rate on land and make no change to the current rate.
He was chairing a preparation meeting for revision of market value guidelines & rules and revision of rates for upcoming calendar year 2022. Annual stamp duty rates preparation process is underway for the upcoming year in the Kashmir Division.
He said covid affected the economy and slumped the growth which necessitates the need to keep the existing rate of stamp duty.
However, he directed for correction of aberrations or any mismatch in previous rate schedule and clearance of variations, if any, in any village or area.
Besides, he directed for including those areas in the upcoming year rate list which were left out or missing in the previous list while preparation of market value and stamp duty.
Meanwhile, he also enquired from district officers about NHIA land acquisition awards under new act, multiplication rate, solatium and other financial values.
Except, Deputy Commissioners of Ganderbal, Pulwama and Shopian who had proposed no change in stamp duty for upcoming year starting from January 2022, other Deputy Commissioners had suggested 2-5 % increase in the stamp duty rate. However, Div Com said that rate should commensurate with economy and stressed on no change in existing stamp duty rate.
The meeting was attend by all DCs of Kashmir Division, Chief Conservator of forests; additional Inspector General of Registration; Chief Engineer, R&B; Chief Town planner, Kashmir; Regional Director Survey and Land Records; Deputy Commissioner Stamps; Joint Director Agriculture, Kashmir; and other officers.