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AREIDA urges Govt to review Circle rate

By Staff Reporter
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GUWAHATI, Feb 29 � The Assam Real Estate & Infrastructure Developers� Association (AREIDA) has renewed its appeal to the Government to reconsider the Circle rate fixed to make it reasonable and rational in larger public interest.

The association also urged that the registration charges applicable to apartments should be reduced to a fixed amount of Rs 500 per unit similar to Delhi.

�The issue of Circle rate in sale deeds instead of actual rate may kindly be taken up with the Registrar, Guwahati, and necessary instruction issued. We have no objection to levy of duties as per Circle rate, but may kindly not be forced to document incorrect figures in the sale deeds,� a press statement by AREIDA president PK Sharma said.

The association had earlier drawn the attention of Chief Minister and Principal Secretary (Revenue) in these regards but nothing has come up as desired.

�Subsequent to our discussion with the authorities we were informed that, the high registration charges and stamp duty on apartments, would be reduced when the new Circle rates for land were finalised. Unfortunately, while the Circle rate has been increased manifold, the registration charge remain not only unchanged, but is also being charged at the same rate as land sales, dealing a double blow to the helpless citizens,� the press statement pointed out.

�The Registrar in the Deputy Commissioners Office is now insisting that the Circle rate be documented in the Sale deeds, as the cost of the flat, irrespective of the actual cost. In most cases it is found the Circle rate is far in excess of the actual value and we would be constrained to falsify the records by documenting an incorrect figure,� it added.

�We have made appeals to the Chief Minister and the Principal Secretary Revenue on the subject of high registration charges and Circle rate for land and building calling for immediate intervention in the matter. The Circle rate has recently been increased exorbitantly to the tune to 8 to 10 times the prevailing rate and in most cases, is much higher than the actual market value. For instance in the interior areas of places like Gorchuk, Betkuchi, Lokhra, where the actual land value is around Rs 20 lakh to Rs 30 lakh per bigha the Circle rate which was Rs 6.5 lakh per bigha, which has now been enhanced to Rs 50 lakh per bigha, which is almost eight times,� the statement added.

Issues concerning stamp duty in Guwahati and other taxes were also raised.

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AREIDA urges Govt to review Circle rate

GUWAHATI, Feb 29 � The Assam Real Estate & Infrastructure Developers� Association (AREIDA) has renewed its appeal to the Government to reconsider the Circle rate fixed to make it reasonable and rational in larger public interest.

The association also urged that the registration charges applicable to apartments should be reduced to a fixed amount of Rs 500 per unit similar to Delhi.

�The issue of Circle rate in sale deeds instead of actual rate may kindly be taken up with the Registrar, Guwahati, and necessary instruction issued. We have no objection to levy of duties as per Circle rate, but may kindly not be forced to document incorrect figures in the sale deeds,� a press statement by AREIDA president PK Sharma said.

The association had earlier drawn the attention of Chief Minister and Principal Secretary (Revenue) in these regards but nothing has come up as desired.

�Subsequent to our discussion with the authorities we were informed that, the high registration charges and stamp duty on apartments, would be reduced when the new Circle rates for land were finalised. Unfortunately, while the Circle rate has been increased manifold, the registration charge remain not only unchanged, but is also being charged at the same rate as land sales, dealing a double blow to the helpless citizens,� the press statement pointed out.

�The Registrar in the Deputy Commissioners Office is now insisting that the Circle rate be documented in the Sale deeds, as the cost of the flat, irrespective of the actual cost. In most cases it is found the Circle rate is far in excess of the actual value and we would be constrained to falsify the records by documenting an incorrect figure,� it added.

�We have made appeals to the Chief Minister and the Principal Secretary Revenue on the subject of high registration charges and Circle rate for land and building calling for immediate intervention in the matter. The Circle rate has recently been increased exorbitantly to the tune to 8 to 10 times the prevailing rate and in most cases, is much higher than the actual market value. For instance in the interior areas of places like Gorchuk, Betkuchi, Lokhra, where the actual land value is around Rs 20 lakh to Rs 30 lakh per bigha the Circle rate which was Rs 6.5 lakh per bigha, which has now been enhanced to Rs 50 lakh per bigha, which is almost eight times,� the statement added.

Issues concerning stamp duty in Guwahati and other taxes were also raised.

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