Kerala to have new regulations and laws governing land and property
A step in the right direction.
The Kerala government aims to bring in comprehensive new legislation on land and property in Kerala. The set of new regulations aims to deal with issues such as the indiscriminate filling of paddy fields by construction companies, a reduction in stamp duty, filling up of water bodies, also by construction companies, fixing land prices to stabilise the market and levying a building tax on apartments. The new measures, when introduced, will have an impact on the fast growing real estate market in the state as well as a positive impact on the environment.
According to Kerala Revenue Minister Mr. Rajendran, the State Government plans to discuss in the State Cabinet a comprehensive legislation for the protection of paddy fields, prevention of indiscriminate sand-mining from rivers and filling up of water bodies. Builders on the other hand would like to see a more nuanced policy that allows for development of land in urban/semi-urban areas where agriculture is not viable.
The Kerala Government is also considering review of guideline land prices that are used as a basis for calculation of registration charges while at the same time reducing stamp duty possibly to as low as 5%. With land prices having increased substantially, the fair-value of land needs to be corrected as the government is currently losing crores of rupees in taxes due to undervalued land.
The Government also plans to raise Rs. 25 crore in Revenue through assessment of building tax on properties throughout the state that are not currently paying the compulsory tax.
By INRnews Correspondent
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Comments
Cochin city now on a fast track development has listed paddy fields with no cultivation over 20 years in a 30km radius from the heart.
The city centre also has listed paddy fields.
The law should be ammended banning paddy cultivation in a 50 km radius around Cochin City.
Posted by: Ranjit | August 26, 2006 04:53 PM
Filling of paddy fields is a direct result of the policies of the state government and their staunch support to the labour militancy making the paddy cultivation unviable and paddy field workers jobless. Therefore so long as this situation does not change any legislation even in the rural areas will not have any positive results. Neither the land will be cultivated nor it could be used for any other useful purpose.
Posted by: joykutty | September 23, 2006 01:54 PM