Digital system on cards for auto calculation of property value in UP
Lucknow, Oct. 5 -- The Uttar Pradesh government is developing a digital system that will enable people to automatically calculate the value of their property and the stamp duty payable, based on the circle rates applicable in their area.
The move aims to make property valuation transparent, consistent and hassle-free, reducing dependence on middlemen such as dealers and private evaluators for simple information. The step will follow the standardisation of circle rates that are currently believed to have wide discrepancies across districts.
"We are working on two fronts. First, we are working on a system that people can use to auto calculate the value of their property and stamp duty payable on the basis of the circle rates prevalent in their district/locality. Second, prior to this, we are going to standardise the circle rates as already directed by the chief minister to do away with certain discrepancies," additional inspector-general (stamps and registration) Ashish Kumar said.
He said the auto calculation system was already under trial and it was yet to produce 100% correct results.
According to officials, the step to standardise rates is intended to bring uniformity and transparency to the process, which has often been criticised for inconsistencies that hamper investment and deprive many landowners, including farmers, of fair value for their property.
"In several districts, there is a wide variation in circle rates for adjoining areas. For instance, land on the Lucknow side of the Lucknow-Barabanki border may have a much higher circle rate than similar land across the border in Barabanki. Even within the same city, rates often vary sharply depending on the location of the plot-such as corner plots attracting higher rates," an official said.
Circle rates are government-notified minimum prices at which properties are registered, forming the basis for calculating stamp duty and registration fees. Market rates, however, are typically higher and determined by actual demand. Currently, there are no general government guidelines for this and the DMs are the sole authority to fix circle rates in their districts.
The standardisation exercise and the proposed digital system are part of a broader strategy to modernise and streamline property-related processes in Uttar Pradesh. The government expects these reforms to provide greater clarity for buyers and sellers, ensure fair valuation for property owners, and enhance revenue collection through transparent transactions.
"We expect to roll out these reforms within a month or two, bringing much-needed relief to all stakeholders," Kumar said....
To read the full article or to get the complete feed from this publication, please
Contact Us.