Thrissur: The 20 per cent hike on the fair value price of land as per the Budget 2023 will be effective from April 1.
In the last 13 years, the land fair value price witnessed a hike five times.
In effect land which had a value of Rs 2 lakh in 2010 will have a value of Rs 5.28 lakh from April 1, 2023.
Meanwhile, entities are flocking and rushing for document registration.
Because a hike in fair value price will impact stamp duty and registration fee.
The people are rushing in to avoid the increased rates.
Reports also suggest heavy rush has caused a shortage of stamp paper.