The Karnataka Stamp (Constitution of Central Valuation committee for estimation, publication and revision of market value guidelines of properties) Rules, 2003.

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Notification

No. RD 149 MUNOMU 2003, BANGALORE, dated 14th August, 2003

In exercise of the powers conferred by sub-section (2) of section 45 read with sub-section (1) of section 68 of the Karnataka Stamp Act 1957 (Karnataka Act No. 34 of 1957) the Government of Karnataka hereby makes the following rules, namely:-

1. Short title and Commencement: (1) These rules may be called the Karnataka Stamp (Constitution of Central Valuation committee for estimation, publication and revision of market value guidelines of properties) Rules, 2003.

(2) They shall come into force from the date of publication in the official gazette.

2. Definitions:- In these rules unless the context otherwise requires,-

(a) "Act" means, Karnataka Stamp Act 1957 (Karnataka Act No. 34 of 1957);
(b) "Commissioner of Stamps" means, the Inspector General of Registration appointed by the State Government under sub-section (1) of section 3 of the Registration Act, 1908 (Central Act 16 of 1908);
(c) "Committee" means, the Central valuation committee constituted under sub-section (1) of section 45B of the Act.
(d) "Financial Year" means the Financial Year from 1st April to 31st March.
(e) "From" means, from appended to these rules;
(f) "Sub-committees" means the market valuation Sub-committee constituted under sub-section (1) of section 45B of the Act for each District.
(g) "Registrar and Sub-Registrar" means the Registrar and Sub-Registrar appointed under the provision of the Registration Act, 1908 (Central Act 16 of 1908);
(h) "Year" means the calendar year from 1st January to 31st December.

3. Constitution of Central Valuation Committee,- (1) The State Government by
notification in the official gazette constitute Central Valuation Committee under section 45B of the Act shall in addition to the Chairman who shall be the Commissioner of Stamps comprise of one representative from the following, namely:-

(i) Directorate of Town planning;
(ii) Directorate of Survey and settlement
(iii) Bangalore City Corporation;
(iv) Bangalore Development Authority;
(v) Income Tax Department;
(vi) Karnataka Public Works Department;
(vii) Karnataka Irrigation Department;
(viii) Registration and Stamps Department;
(ix) Institute of Chartered Valuers;
(x) Federation of Karnataka chamber of commerce and industries;;
(xi) any other person having expertise in the subject;

Provided that the total number of members shall not exceed twenty.

(2) Subject to the pleasures of the Government and the term non official members shall be two years.

(3) The Deputy Inspector General of Registration (Intelligence), shall be the Member Secretary of the Central Valuation Committee and shall be responsible for looking after the day to day administration and functions of the committee and other matters relating to correspondence. He shall also be responsible for compilation and publication of the data relating to the market value guidelines in accordance with the decision the committee.

(4) The office of the Central Valuation Committee shall be located in the office of the Inspector General of Registration and Commissioner of Stamps or any other place decided by the Central Valuation Committee.

4. Constitution of market valuation sub-committees,- (1) The Central Valuation Committee may, by notification in the official gazette, constitute Market Valuation Sub-Committees in each Sub-District and District for the purpose of estimation and revision of the market value guidelines of the properties. The members of these Sub-committees may be drawn from the department of Revenue, Survey and settlement, Public works and the Municipal Councils or Town Panchayaths. The sub-committee shall be headed by the Tahsildar of the concerned Taluk and the sub-Registrar of the said sub-district shall be the Member Secretary. The committee in a sub-district shall function under the administrative control of the Registrar of the District, who shall be under the supervisory control of the central valuation committee.

(2) The office of the sub-committee shall be located in the office of the Sub-Registrar and the Sub-Registrar is responsible to over see the administration of the sub-committees and matters relating to correspondence. He is also responsible for the compilation of the data relating to the market value of the properties, in accordance with the resolution of the sub-committee.

5. Estimation of market value guidelines,- (1) The Central Valuation Committee shall, as for as possible in the first week of October of every calendar year, send instructions along with general policy guidelines to all the sub-committees in the state for estimation of market value guidelines of properties for the next calendar year. Such instruction may be sent to any sub committee, at any time of the calendar year for the revision of the rates, if required.

(2) The sub-committee shall on receipt of the instructions publish the intention of such estimation or revision, as the case may be, in the local newspapers and also on the notice board of important offices. A period of 15 days may be allowed for receipt of objections and suggestions from the public and all such suggestions and objections so received, shall be processed by the Secretary and placed before the sub-committee for discussion. The sub-committee shall meet as often as required to discuss and decide on the estimation of market value rates for the guidelines and prepare a statement showing the average rates of agricultural lands, residential, commercial and industrial sites in village and municipal or any other local body area in its jurisdiction as specified in these rules. The data shall be arranged village and local body wise and the statement shall be prepared and signed by the Secretary and Chairman of the Sub-Committee in such form as may be specified by the Committee from time to time. The data so prepared shall be both in paper copy and a soft copy (Floppy) in Microsoft Access shall be sent to the Registrar of the concerned District, in the last week of December of every Calendar year. The hard copy of the data shall be in a booklet from and the committee may also record its views on the suggestions and objections received from the public in the appropriate column.

(3) The Registrar shall on receipt of the statement received under sub-rule (2), shall verify and if he finds any discrepancy or omission may remit it back to the Sub-committee immediately for rectification or supply of the omission. Such reference shall be attended by the such committee and the statement be re-submitted to the Registrar within 15 days from the date of reference. The Registrar shall finally examine the data and record his views in the appropriate column for any improvement or change and send the booklets and soft copies of the same, separately for each sub-district to the Secretary of the Central Valuation Committee in the first week of January of the next calendar year.

6. Guidelines for the estimation of the Market Value by the Sub-Committee,- Each Market Valuation Sub-Committee shall prepare the statement showing average rates of agricultural and non-agricultural lands, residential, commercial and industrial sites in the sub-district and municipal or local body area, on the following general guidelines as reference.

(1) (a) In the case of lands-

(j) Classification of land as dry, garden, wet and the like;
(ii) Classification under various classes of soil in the survey records;
(iii) Other factors which influence the valuation of the land in question;
(iv) Value of adjacent land or lands in the vicinity;
(v) As for as practicable the nature of crop and average annual yield from the land for five consecutive years till the determination and nearness to road the market, distance from village site, its location in general, level of land transport facilities, facilities available for irrigation for irrigation, such as tanks, well and pump sets.

(b) In the case House sites,-

(i) The general value of house site in the locality;
(ii) Nearness to road, railway station, bus route;
(iii) Nearness to market, shops and the like;
(iv) Amenities available in the place like public offices, hospitals and educational
institutions;
(v) Development activates, industrial improvements in the vicinity;
(vi) Land tax and valuation of sites with reference to taxation records of the local
authorites concerned;
(vii) Any other features having a special bearing on the valuation of the site;
(viii) Any other special features bore well in addition to public water supply, lawn,
garden swimming pool.

(c) Properties other than lands, house-sites and buildings-

(i) The nature and conditions of the property,
(ii) Purpose for which property is being put to use; and
(iii) Any other special features having a bearing on the valuation of the property.

(2) (a) The suggestions for the estimation of market value of non agricultural and industrial lands in general may also be separately indicated either as multiple of the rate for agricultural land or square feet considering the location of the property namely Municipality / corporation or village. Normally the values for lands converted for non agricultural use in a village not near to a town/city, may be estimated per square feet.

(b) The value of agricultural lands may be classified as dry, wet or garden, generally and nearness to the village may be considered for fixing the rates to each class.

(c) The rate for the lands with coconut or areca plantations may be estimated as garden lands instead of land plus numbers of trees.

(d) Public Works Department norms for the cost of construction of buildings prevailing in the concerned area may be indicated.

(e) Basic civic amenities such as electricity, water supply and drainage need not be considered as special features for the purpose of cost of construction. This should be considered as a part of the cost of construction.

7. Process of the Statements by the Central Valuation Committee,- (1) The Secretary of the Central Valuation Committee on receipt of the statement from the Register of a District shall verify and place them before the committee, which shall meet, in the 3rd week of January of the next calendar year.

(2) The Committee shall meet as often as possible to discuss the estimation of market values received from each district and take final decision on the estimation of the market value after considering the suggestions made by the committees and the Registrars as for as possible before the end of February of the next calendar year. The committee is the final authority, either to reject the suggestions or to accept for incorporation in the guidelines. All such decisions shall be recorded in the proceedings of the meeting of the committee.

(3) On approval of the estimation of the each sub district / district, the statements shall be attested by the Secretary on behalf of the committee, who shall then arrange to send such approved statements of estimation of market value of properties to the Registrar of the District in the first week of March of the next calendar year and later shall forward it to the concerned sub-committees within a week of the receipt of the statements in such from as may be specified by the Committee from time to time. The approved statements shall be published not only in all the prominent offices in each sub-district, besides the Sub-Registry Office, but also be made available in the office of the District Registrar of the concerned District. Sufficient number of copies should be arranged to be printed by the Registrars for sale to the public at a price to be fixed by the Central Valuation Committee from time to time.

8. General guidelines for the estimation of market values by the committee,- (1) The Central Valuation Committee may, in its discretion adopt any policy or modality or standard for deciding the estimated market value of properties.

(2) In order to achieve uniformity the following general principles may be adopted,-

(a) Separate uniform guidelines / formulas may be evolved for the calculation of the rates
for the buildings of different kinds, lands converted for nonagricultural use or industrial use as applicable to all the sub districts and appended to the market value guidelines so approved and published;

(b) The rates approved by the Public Works Department for various kind of constructions is to be adopted uniformly in the state and may be revised as and when found necessary. The rates of depreciation as per Public Works Department norms may also be appended to the guidelines with direction for appellation only by Registrars dealing with reference under section 45A of the Act.

9. Revisions, Special revisions and rectification of anomalies:- (1) The Committee has the power in its discretion to defer revision of market value guidelines in respect of may specified sub district or district or all the sub districts.

(2) Not withstanding anything contained in these rules, If for any reason the committee could not either order or undertake revision of market value guidelines for any year, the same may be communicated to the Registrar of the district, who will issue instructions to all the Registering officers and committees to adopt the last revised guide lines, for the year for which the revision is not intended to the undertaken.

(3) The committee or chairman may, in his discretion, as the case may be order for special revision of the market value guidelines in any specified area of a sub district, district for rectification of any anomaly in the estimation of market value, and may also order for special revision of market value guidelines of any sub district or all the sub districts in the state for any reason to be recorded in the proceedings of the committee.

10. Records and proceedings of the committee:

(1) The committee shall keep a minute book, in which proceedings of all the meetings shall be recorded and signatures of all the members present shall be obtained.
(2) The quorum for the meeting shall be 50 % of the total number of members.
(3) All the decisions are taken by a resolution passed by majority of votes. If, in any meeting, the number of members present falls below the quorum, the meeting may be adjourned for 15 minutes and on reassembly the proceedings may be commenced even without the required quorum.
(4) The chairman shall have the power to cast an extra vote in case a tie. He shall also have the authority to review, annual or reverse any such decision, for reasons to be recorded in writing, if in his opinion, it would prejudicially affect the interest or revenue of the state.
(5) All the market value guidelines statements approved by the committee are public records and shall be preserved as permanent records in the office of the committee and copies be made available to any public on application and payment of fees to be prescribed by the committee by notification in the official gazette.
(6) The Sub-Committee shall also preserve the market value guidelines approved by the Central Valuation Committee as permanent public records and copies may be made available to public in the same manner as prescribed above.

11. Repeal and savings,-

(1) The Karnataka Stamp (Constitution of Committee for estimation of Property) Rules, 1992 are hereby repealed:
Provided that such repeal shall not affect,-
a) the previous operation of the said rules or anything duly done or suffered thereunder,
b) any right, privilege, obligation or liability acquired, accured or incurred under the said rules;
c) any penalty, forfeiture of punishment incurred in respect of any offence committed against the said rules; or
d) any investigation, legal proceedings or remedy in respect of any such, right, privilege obligation, liability, forfeiture or punishment as aforesaid.

and any such investigation, legal proceedings or remedy may be instituted, continued or enforced, and any such penalty, forfeiture or punishment may be imposed as if this rule has not been notified.

By order and in the name of the
Governor of Karnataka

K.S.SHYLAMMA
Under Secretary to Government,
Revenue Department (Stamps & Registration)