The State Government is mulling to increase land valuation by the Department of General Administration (GA) to match the Bench Mark Valuation done by the Department of Revenue & Disaster Management.
In fact, there is a mismatch between the rates of Government land lying within the limits of the Bhubaneswar Municipal Corporation (BMC) area. Chief Secretary GC Pati has asked GA Department officials to act immediately on the matter.
While every year the Khordha District Registration Office (KDRO) revises the land premium as per the Bench Mark Valuation system, the GA Department revised the rate of land premium in the BMC area in 2012. And the market value of the land in and around the capital city has gone up very high during last two years.
In the meantime the KDRO has revised the rates of land premium twice during last two years. So, there is a mismatch between the rates of lands being controlled by the GA Department and declared by the KDRO.
While both the organisations are under the same roof of the Government, there should not be any mismatch while revising the price of land, say knowledgeable circles.
Taking this into account, a proposal was mooted by the GA Department to revise the land controlled by the Government in the BMC area as per the Bench Mark Valuation (BMV) adopted by the Khordha District Registrar. This has been approved by the Chief Minister, and the GA Department would soon hike the land premium, said an official.
It has also been decided that as and when the District Registrar revises the land premium as per the BMV, the GA Department would follow suit without any further delay, said sources.
This would not only maintain uniformity but would also generate more revenue for the State exchequer. There would be direct revenue earning by hiking the premium rate, and the registration fees would also go up, said official sources.