(1)
These rules may be called
the Karnataka Stamp (Constitution of Committee for Estimation of Property)
Rules, 1992. (2)
They shall come into force
from the date of publication in the Official Gazette. In these rules,
unless the context otherwise requires. (a)
"Act" means the
Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957); (b)
"Committee" means
Committee constituted under Section 45-B; (c)
"Form" means Form
appended to these rules. (1)
Each Committee shall consist
of not less than three and not more than five members who shall be the Officers
of the Department of Revenue, Public Works, Survey and Settlement, Officers of
City Corporation or [1][City
Municipal Council, Town Municipal Council, Town Panchayat or Grama Panchayat
and an expert in the field of valuation of properties in such areas and for
such term as may be specified]. (2)
The Sub-Registrar of the
Taluk or a Sub-District, as defined in the Registration Act, 1908 (Central Act
1 of 1908), shall be die Member Secretary of the Committee. (3)
One of the members of the
Committee specified by the Government in the notification shall be the
Chairman. The Committee shall
have regard to the following, while estimating the market value of the
property. (a)
In the case of lands. (i)
Classification of the land
as dry, garden, wet and the like; (ii)
Classification under various
classes of soil in the survey records; (iii)
The rate of revenue
assessment for each classification; (iv)
Other factors which
influence the valuation of the land in question; (v)
Points, if any, mentioned by
the parties to the instrument or any other person which requires special
consideration; (vi)
Value of adjacent land or
lands in the vicinity; (vii)
Average annual yield from
the land for five consecutive years till the determination and nearness to road
and market, distance from village site, its location in general, level of land,
transport facilities, facilities available for irrigation, such as tanks, wells
and pumpsets; (viii)
The nature of crops raised
on the land. (b)
In the case of house sites. (i)
The general value of house
sites in the locality; (ii)
Nearness to road, railway
station, bus route; (iii)
Nearness to market, shops
and the like; (iv)
Amenities available in the
places like public offices, hospitals and educational institutions; (v)
Development activities,
industrial improvements in the vicinity; (vi)
Land tax and valuation of
sites with reference to taxation records of the local authorities concerned; (vii)
Any other feature having a
special bearing on the valuation of the site; (viii)
Any special features of the
case represented by the parties. (c)
In the case of buildings. (i)
Area of the land; (ii)
Plinth area and built up
portion in each of the storeys; (iii)
Year of construction; (iv)
Material of the wall and
material of the roofing; (v)
Locality in which
constructed; (vi)
Amenities provided such as
water supply, electricity supply (ordinary or all electric), sewerage, well and
garage; (vii)
Rate of depreciation; (viii)
Fluctuation in rates; (ix)
Any other features that have
a bearing on the value; (x)
Property tax with reference
to taxation records of local authority concerned; (xi)
The purpose for which the
building is being used and the income, if any, by way of rent per annum secured
on the building; and (xii)
Any other special feature
having bearing on the valuation. (d)
Properties other than lands,
house-sites and buildings. (i)
The nature and conditions of
the property; (ii)
Purpose for which the
property is being put to use; and (iii)
Any other special features
having a bearing on the valuation of the property. The Committee shall
review the estimate of market value of the property once in three years during
the period from January to March and the provisions of Rule 6 shall, mutatis
mutandis, apply. (1)
The Committee shall meet at
such intervals and at such places as may be decided by the Chairman of the
Committee. (2)
The quorum for the meeting
shall be Two" in case of Committee consisting of 3 members, and
"Three" in case of Committee consisting of 5 members. (3)
The proceedings of the
meeting of the Committee shall be recorded in a Minute Book kept for the
purpose and shall he signed by the Chairman of the meeting, at that or at the
next succeeding meeting. (4)
[2][
x x x x x.] (1)
The estimated market value
prepared in accordance with Section 45-B shall be published in the office of
the Sub-Registrar of the respective jurisdiction. (2)
The Chairman of the
Committee shall make available the estimated market value to the concerned
Sub-Registrar who shall cause to supply the copy or relevant portion thereof,
as the case may be, to the Offices specified below. (i)
Tahsildars Offices, (ii)
Taluk Panchayats. (iii)
Gram Panchayats. (iv)
Municipal Corporation/Town
Municipal Council/City Municipal Council/Town Panchayats. (3)
One copy of the estimated
market value shall be exhibited at a conspicuous place in the office of the
Sub-Registrar and District Registrar for use of the public. Notwithstanding
anything contained in these rules, the Chairman of the Committee may at any
time order for a special revision of the estimate of market value in any
specified area under the following circumstances leading to a sudden
appreciation of land values. (a)
setting up of an industry or
group of industries or infrastructural projects. (b)
development of large scale
housing projects. (c)
development of achkut under
irrigation projects. (d)
any other special
circumstances as affects or is likely to affect the value of immovable
property. (1)
If any representation is
received from parties aggrieved by the rates shown in the estimate of market
value or if any Officer of the Department notices any anomaly, the issue shall
be referred to the Committee, by the Chairman. (2)
The Committee thereupon
shall examine the representation, make such further inquiry or inspection as
may be necessary and arrive at an appropriate estimate of the market value].KARNATAKA STAMP (CONSTITUTION OF
COMMITTEE FOR ESTIMATION OF PROPERTY) RULES, 1992
In exercise of the powers conferred by Section 68 read with Section 45-B of the
Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), the Government of
Kamataka hereby makes the following rules, namely.