The Divisional Commissioner Kashmir (Chairman of Divisional Valuation Board) Baseer Ahmad Khan, on Saturday, chaired a meeting to review stamp duty rates of land and structure for the calendar year 2020, under the provision of J&K Preparation and Revision of Market Value Guidelines.
The Divisional Commissioner sought a detailed report from all District Development Commissioners (DDCs) regarding the proposed new rates as per the principles and determination of market value.
The Valuation rates in the buildup areas proposed by the Roads and Buildings (R&B) department were also discussed in detail, in respect of all the districts of the valley.
The Divisional Commissioner impressed upon the DDCs and the concerned to notify the rates of the land and structures strictly as per guidelines.
After detailed discussion, the members of the Divisional Valuation Board (DVB) approved the Rate Structure proposal submitted by the DDCs, which will come into effect from January 01, 2020, up to December 31, 2020.
All the District Development Commissioners (DDCs) were directed to notify the same as per rule of the J&K Preparation and Revision of Market Value Guidelines.
The DDCs will upload the approved stamp duty rates for the year 2020 in their respective district administration websites on January 01, 2020 for information of the general public.
Deputy Commissioner Srinagar Dr Shahid Iqbal, Additional Inspector General (Registration) Bilal Ahmad Bhat, Additional Commissioner Kashmir, DC Stamp Duty, Regional Director Survey and Land Records, Director Agriculture, Senior officers of R&B and Town Planning and other concerned officers were present in the meeting whereas other Deputy Commissioners of the valley participated the meeting through video conferencing.