Kerala’s fair market value for land forms the basis for calculating the registration and stamp duty fees. Prices depend on the area, the circles, and other amenities provided. Based on the air value, revenue from property transactions also exists.
Fair value and market value are different.
Kerala’s state government determines the fair market value of land. In Kerala, on the other hand, the marketplace, which depends on the supply and demand scenario, determines the market value of the land. If the decided transaction value of the land is less than the fair value of the land in Kerala, the land’s value is less than the fair value of the land in Kerala. The land’s value typically plays a role in deed registration and stamp duty. As a result,
As a result, the fair value of the land in Kerala, also known as the consideration amount, is used to calculate registration and stamp duty fees. Consideration goes to the higher one.
Application and significance of Kerala’s fair market value of land
The overall valuation is sufficient for completion based on the fair value that existed on the date of execution of the document in transactions where the parties executed the sale deed before the revision of suitable value. The fair land market in Kerala will determine the stamp duty for registration.
Kerala’s process for determining the fair market value of land
You must carefully follow the steps below to check real estate’s market value in Kerala.
Step 1: Go to the IGR Kerala website to complete every request.
Step 2: Choose the district, taluk, and village from the drop-down menu. To continue, you must make one of these decisions.
Step 3: Choose Desam, the block number, the types of land, the survey number, and any necessary information.
Step 4: You need to click on the tab ‘View Fair Value and then it will take you to an altogether new page where you can access the displayed results on your device’s screen.
The earlier notification must reflect the most recent adjustment to Kerala’s fair market value of land. Additionally, you must unavoidably read the disclaimer page on the IGR website. The department declares that any inaccurate information on this website is not its fault. All users should check the original notifications sent by the collectors or RDOs to confirm the rates listed on the website.