The government is likely to take a decision on Saturday on the proposal of the Stamps & Registration Department to enhance the market values of properties all over the State for registration purpose, encompassing both rural and urban areas.
Sources said the department had submitted proposals some time ago to increase the market values of properties by 10 to 150 per cent in line with the prices they were fetching in the market for sellers, but the decision could not be taken by so far by the government.
If proposal is cleared by the government, the new market value rates will come into effect from the new financial year beginning April 1, 2013.
The new market value rates will be displayed at the sub-registrar offices concerned for the benefit of public.
Increase in market values will push up the registration charges in the State because it is based on market values of the properties that stamp duty, transfer duty and registration fee is being collected at a certain percentage.
