Fair Value Calculations:Click

Fair value of land in Kerala is the valuation set by the Kerala Government upon the District, Taluk, Village and RDO. It’s the calculation laid on facilities and transportation growth in that particular District or Taluk. When registering a property the registration charges and the stamp duty are calculated based on the fair value of that particular land. This value is meant to be revised periodically as per market value and fair value and in Kerala.
The details of schedule of property, buyer and seller details along with their transaction value on stamp paper will be displayed while registering a property or land. Once the paper work is done the stamp duty and registration charges are calculated based on the fair value of land / property. In most of the cases the fair value will be lower than market value based on various calculations.
The fair value system has divided land in Kerala into 15 categories on the basis of their location and access to the public roads. Each category has given a minimum value level and the stamp duty for registering the property will be on the basis of this value.
The major 15 categories based on location are as follows
1. Commercially Important Plot
2. Residential Plot with NH, PWD Road access.
3. Residential Plot with Corporation, Municipality, Panchayath Road Access.
4. Residential Plot with Private Road Access.
5. Residential Plot without Vehicular Access
6. Garden Land with Road Access
7. Garden Land without road access
8. Coastal Belt
9. Water Logged Land
10. Rocky Land
11. Waste Land
12. Wet Land
13. Hill tract with road access
14. Hill tract without road access
15. Government Property.

The expenses involved during registration include Stamp Duty, registration fees, Document writers/ lawyer's fees etc. The stamp duty will depend on the cost of the property. The land market price is announced by kerala Government depending up on location, type of land, road accesses and there is any building it also considering for the valuation, these rate are published in registrar office and village office.( Kerala govt fixed a land value tariff rate each and every where in Kerala especially for registration process in order to increase the revenue which is implemented on October 2007 again Kerala govt revised the fair value rate on October 2014 as 50% extra .the rate will get from the govt website .in April 2018 govt again revised the tariff rate as 10% additional .which is not reflected in present website ) The stamp duty for Municipality , Corporation and Panchayat is now same rate of 8% + Two ( 2% ) percentages will be charged as the registration fees. Document writer's fee also depends on the cost of the property and varies with individuals. There is a percentage prescribed by the government as Document writer's fee. After registration, the registered document will be received after 2-3 weeks, from the registrar office.

MURICKENS GROUP

HO : KOTTAYAM-KADUTHURUTHY

BR : KOTTAYAM- CEMENT JUNCTION

ERNAKULAM-PALARIVATTAM

Real estate cunsulting officials at U.S.A. (Texas & Newyork) & Bombay

Email : mg@murickens.com, murickans@gmail.com