Government of kerala has issued a draft tariff for assessing the value for all areas in the state. The new tariff value is not very different from the current value. In simple terms, this means the future buyers will not pay higher tax that would pay today. The details of specific areas are yet to be known.
The information is expected to reach the registration office in the coming weeks. The state government notified the draft containing 15-lakh pages using special earlier this Gazette week.Fair value of land has been proposed for 1452 villages in the state.
The higher price is MG Road Cochin. The prize money value for this area is 10 lakhs / Cent. The lowest is RS 5000. As when this would be in effect is yet to watch.
Several aspects were taken into account in determining the value. Land in each village was divided into 15 categories determined by taking into account factors such as the commercial importance, access to road, highway and other major roads, facilities for water supply , Electricity, transport and communications and proximity to the market, bus stand, hospitals and educational institutions. Basically, the earth through the state has been classified as land, wastelands, wetlands and land garden. Previously, it was classified wetland fair and garden land.
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