Land survey. File photo for representation | Photo: Mathrubhumi
Thiruvananthapuram: Though finance minister KN Balagopal has announced an increase in the fair value of land in Kerala, the government is yet to resolve the issues surrounding the pricing raised back in 2010.
At some locations, the property on two sides of the same road is priced differently. In some other places, land with the same survey number, no matter how far it is from the road, is priced the same. This means even if a plot does not have proper road access, it will have the same fair value on government records as the plot that is adjacent to the main road, just because it has the same survey number.
In some cases, higher fair values than the market price are also recorded.
Real estate agents claim government officials decide on fair value without holding field visits or public hearings. Revenue divisional officers who are entrusted with the process blame it on the lack of human resources to conduct due process.
Fair value has been raised five times since 2010 and yet these issues were overlooked.
Meanwhile, the committees set up to investigate how to determine fair value scientifically have not yet submitted their reports.
Balagopal had announced that the fair value would be hiked by 20 per cent. Fair value is used to calculate stamp duty and registration fees while transacting land. During the budget discussions, Ponnani member in the Assembly P Nandakumar had asked the government to reconsider the hike.