Kolkata, March 19 -- For fixing the sale and the reserve prices at the time of sale of the property, Kolkata Municipal Corporation (KMC) has framed a guideline mandating that valuation of properties attached by the civic body for non-payment of property taxes must be obtained from government empanelled valuers.
It was learnt that the decision for the move was taken after it was cleared in a recent member mayor-in-council meeting. The objective is to ensure that while fixing the sale price and the reserve price at the time of sale of the property in question, the value of the property is obtained from government empanelled proved valuer/chartered valuer surveyor engaged by KMC.
The civic body, sources said, has floated a list of 11 empanelled valuers.
An issued communication read: "Henceforth, when the process is initiated for sale of a property attached u/s 22 IA and 221B of the KMC Act, 1980, the respective Unit of the Assessment Collection Department shall invite quotation from all the above empanelled valuers for the work of valuation of the property in question."
Sources said this will serve another purpose, which is, in case of any future litigation if the valuer is required to establish such valuation before the court, it shall be bound to do so without any additional remuneration for this purpose.
This will also save the civic body unnecessary expenses and is thus being viewed as a cost-cutting decision. The KMC has also set a format for the standard valuation report.
This should contain among other things, property market trends and the valuation certificate. Other things to be taken into account include a brief description of the assets.
Published by HT Digital Content Services with permission from Millennium Post.