No land registrations after hike in benchmark valuation
Uncertainty continues to prevail over land transactions in Bhubaneswar – the biggest property market of the State – as land registration remained closed for over 60 days.
Besides heavy loss to the State exchequer, sufferings of the general public, who are in dire need of disposing of their property for different personal and social reasons, have multiplied due to non-transaction of properties.
On an average, 40,000 land and property transactions take place in the capital city annually.
Two months halt in property transactions means, around 6,000 transactions have not taken place leading to chaos in the property market.
Members of the Bhubaneswar Bar Association and the All Odisha Deed Writers’ Association (AODWA) have said the situation arose after the State government increased the benchmark valuation of land in the capital city on September 1.
These associations have been demanding rollback of increase in land valuation.
Bansidhar Behera, president of AODWO, has said since increase in benchmark valuation would affect interest of the general public, the association has kept it off from the land and property registrations.
“As a couple of cases pertaining to issue of increase in benchmark valuation are pending in courts, land registration cannot be taken up,” Mr. Behera has said.
When asked whether court has instructed not to take up registration, AODWO president has said there is no such restriction.
Sources say some vested elements hijacked whole property registration process while the general public are left to suffer. The State government has not shown any sign of any strong initiative to resolve the issue.
Meanwhile, resentment among stamp vendors and deed writers are brewing over government’s decision to go for e-registration.
There are apprehensions that ‘likely’ protests by stamp vendors and deed writers could stretch the present impasse in land registration in Bhubaneswar further.
A delegation of Odisha Stamp Vendors’ Mahasangha on Thursday met Revenue and Disaster Management Minister Surya Narayan Patro and put across their concerns of losing profession due to proposed e-registration process.
“There are about 250 stamp vendors and thousands of deed writers depending on manual land registration. If e-registration happens, it would render us jobless,” says Ramakrushna Parida, secretary of Odisha Stamp Vendors’ Mahasangha.
The bottleneck in land registration has disastrous impact on realtors who are finding it very difficult to cope with the situation.
Several projects worth crores of rupees have failed to make progress as properties could not be acquired on account of ‘non-cooperation’ by lawyers and deed writers.
Chaotic situation prevails in the property market Rollback of hike in benchmark valuation demanded
Chaotic situation prevails in the property market
Rollback of hike in benchmark valuation demanded