Corner plot owners must pay 10% extra

THE DEPARTMENT of Registration and Stamps has issued directions for valuation of plots and land, based on their location and status of construction.

THE DEPARTMENT of Registration and Stamps has issued directions for valuation of plots and land, based on their location and status of construction.

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According to instructions issued for 2006-07, the corner plot holders would be required to pay 10 per cent more than the guideline fixed for the area. Similarly, 10 per cent more would be charged if the foundation has been laid on the plot and if it is located on the corner, its evaluation will be 20 per cent more than the guideline.

Nevertheless, the Department has also granted few exemptions. It has extended a rebate of 10 per cent on 20- year-old houses and 20 per cent on more than 50-year-old houses.