New Stamp Duty In Kashmir From Next Year  

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SRINAGAR — The notification of new stamp duty rates for the calendar year 2019 for Kashmir division including Leh and Kargil will be notified and implemented from January 1 next year under the existing provisions.

In this regard, Divisional Commissioner Kashmir Baseer Ahmad Khan chaired a meeting to review the finalization of the new rates, here today After threadbare discussion, the stamp duty rates were reviewed on the basis of the rates notified by Deputy Commission­ers of all districts of the Kashmir Divi­sion including Leh and Kargil districts.

The meeting discussed the fixation of stamp duty for different types of land as per the existing guidelines. The Di­visional Commissioner stressed that while calculating the stamp duty, the nature and type of land, viz., Irrigated, Un-irrigated, Residential, Commercial, road-side, upcoming approved de­velopmental infrastructure in various areas, Structures, rate escalation and other factors will be kept in view.

More­over, proximity to the road or inner ar­eas would also be taken into account so that proper land acquisition will be done without any discrepancy in fu­ture. It was given out that the specific guidelines and rules for the purpose of calculation will be applied to calculate the stamp duty and the report so pre­pared will be sent for final fixation.

The Divisional Commissioner emphasized the need to chalk effective strategies to assess the real value of the property to project realistic rates and to overcome the quantum of stamp duty losses.

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