Undervaluation of properties: One-time package to pay dues to be held after Navakerala Sadas

Sunday 26 November, 2023 | 12:43 AM

THIRUVANANTHAPURAM: A one-time package to pay dues for cases related to the under-valuation of properties will be held after Navakerala Sadas. The aim is to bring the outstanding amount, in tune of several crores, to the exchequer. Meetings were held for this at the Registration Minister, Finance Minister and Chief Minister levels.

Settlement was granted several times to pay the dues in cases where the land was registered under reduced value from 1986 to 2017. The registration department has started sending recovery notices to those who have not availed this opportunity till March 31. Around 17 lakh cases of undervaluation were found during this period. More than two lakh cases are pending. More than Rs 400 crore rupees have reached the exchequer so far through the settlement.

Revenue recovery for under-valuation

If the sub-registrar is convinced that the value of the property has been understated while registering a property, he/she should inform the district registrar (general). Even if a complaint is received, the district registrar can verify it. If the price is found to be undervalued, the district registrar can take undervaluation action. Notice will be given first to the property owner. If the reply is not satisfactory then a notice will be issued to pay stamp duty and registration fee proportionate to the revised land value. If this is not paid, recovery action will be taken. The parties may appeal the action to the District Court. In 2011, 2012, 2016 and 2018, a one-time settlement was announced.