Measures to check imbalance in guideline values initiated

Special Correspondent

CHENNAI: The State government is taking corrective measures to check imbalance in guideline values in a few identified places, Registration Minister N. Suresh Rajan told the Assembly on Thursday.

Committees at taluk and district levels, and a Central Valuation Committee had been set up to review the values where land prices had skyrocketed following the boom in the information technology sector.

The Minister was responding to a query raised by a member, who wanted the government to penalise realtors buying huge pieces of land and not developing them.

To weed out fake registration documents, 450 of the total 568 Sub-Registrar offices had been computerised. The government was also considering alternative mechanisms, such as introducing e-stamping and franking machines, for collecting stamp duty.

The Registration Department had earned Rs.4,232.36 crore, an increase of 24.21 per cent against the previous year’s total of Rs.3,407.50 crore, making it the third largest revenue earning department.

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