CAG observes shortcomings in the levy of stamp duty & registration fee
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The Comptroller and Auditor General (CAG) has observed shortcomings in the levy of stamp duty and registration fee during the BJP-led government from 2014 to 2019. 

The CAG in its report slammed the government for short levy of stamp duty due to undervaluation of property, in conveyance deed due to incorrect application of provisions of the Maharashtra Stamps Act and Annual Settlement Rates.

Further, CAG has pointed out that there was a short levy of the stamp duty in cases of lease deed and it was also due to the non-impounding of instruments. During the previous government, the Revenue Department was held by Chandrakant Patil after Eknath Khadse had resigned.

‘’Data considered for preparations of annual statement rates (ASR) was not complete and correct. Change in status of land like conversion to non-agricultural land was not ascertained from the revenue authorities and updated,’’ said CAG. Moreover, the changes in survey numbers due to fragmentation/amalgamation of areas were also not updated.

According to CAG, value zone maps were not updated as per the development plan and also separate value zones for high-value transactions were not formed. Valuation guidelines (VG) for determination of depreciation, the impact of floor space index/transferable development rights and buildable public reservation in the valuation of land were not uniform throughout the state. ‘’The VG for an increase in valuation of properties located in large housing projects in municipal corporations/council limits was not applicable to properties having similar potential situations in the influence zone. VG for valuation of parking spaces allotted free of cost to the owner is absent’’ noted CAG in the report.

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Free Press Journal