PANAJI: State revenue department has formed 12 Taluka level and 2 District Level committees to finalise and prepare annual statement of minimum land rates in the state.
The department aims to plug revenue leakages by determining and annually notifying the correct market value of real estate in Goa. The Taluka Level committee will prepare draft annual statement of minimum land rates.
This Committee is expected to complete, finalize and submit the recommendations to District Collectors by October 15 of every year. Similarly, the District Level committee will be responsible for determining the annual statement of minimum land rates.
The Committee shall complete & finalize the recommendation by October 31 of each year, and submit the same to the Revenue Department for issue of Notification by 1st day of January of every year.
Each of the 12 Taluka level committees will comprise of Dy. Collector & SDO, Mamlatdar of the Taluka ,Town Planner, Asst. Engineer (PWD) Building , Sub Registrar of the Taluka. The District Level Committee will comprise of District Collector, District Registrar, Sr. Town Planner , Executive Engineer (PWD), Building , Dy. Collector (Revenue)
With the objective of preventing property owners, builders and realtors from under-valuing real estate, the revenue department had brought in the Goa Stamp (Determination of True Market Value of Property) (Amendment) Rules, 2023 in May this year.
The revenue department is expected to notify the “annual statement of rates” on January 1 every year. If the rates are not notified, by January 1, the prevailing rates shall continue to apply.