Excelsior Correspondent
JAMMU, Mar 23: To fix the stamp duty rates for next financial year in Jammu division under provisions of J&K Preparation and Revision of Market Value Guidelines rules, a meeting was held under the chairmanship of Divisional Commissioner Jammu Dr. Pawan Kotwal here today.
The meeting was attended by Deputy Commissioners of Jammu Division besides members of Divisional Valuation Board.
At the onset of meeting, Divisional Commissioner impressed upon the participants to take into account the importance of fixing prevalent rates to avoid ambiguity in the market rates, generate income for the Government and to make the rate simple for facilitating the transactions.
In the meeting, the stamp duty rates of Jammu division were approved by Divisional Commissioner on the basis of the rates notified by Deputy Commissioners of the all the districts of Jammu division for the next calendar year under the provision.
Dr. Kotwal said that it is imperative that rates are fixed genuinely and in a simple way, which are practical and easy for the people. He said that rate escalation every year indicate that the real estate value increases manifold and frequently and the stamp duty rates should be fixed/revised accordingly. 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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