THE JAMMU AND KASHMIR STAMP (DETERMINATION OF MARKET VALUE OF PROPERTY) RULES, 2006

PREAMBLE

In exercise of the powers conferred by section 75 read with subsection (3) and sub-section (4) of section 31 of Stamp Act, Samvat 1977, the Government hereby make the following rules and publish the same in the Government Gazette as required by sub-section (1) of the said section 75 namely :-

Rule - 1. Short title.

These rules may be called the Jammu and Kashmir Stamp (Determination of Market Value of Property) Rules, 2006.

Rule - 2. Definitions.

(1)     In these rules, unless the context otherwise requires:-

(a)      "Act" means the Stamp Act, Samvat, 1977

(b)      "Authorized Agent" means:-

(i)       a person holding the powers of attorney to act on behalf of, and in the name of, his principal: or

(ii)      a person authorized in writing by the principal to act on his behalf.

(c)      "Collector" means Collector of the District appointed under the Land Revenue Act, Samvat, 1963

(d)      "Deputy Commissioner of Stamps" means an officer appointed by the Government as Deputy Commissioner of Stamps.

(e)      "Divisional Commissioner" means the Divisional Commissioner of Jammu /Kashmir, as the case may be; and

(f)       "Registering Officer" means the Registering Officer appointed under the Registration Act, Samvat, 1977.

(2)     Words and expressions used in these rules but not defined therein shall have the same meaning as are assigned to them in the Act.

Rule - 3. Particulars to be truly set forth in the instrument as required under the Act.

The following particulars shall be fully, finally and truly set forth in instrument relating to immovable property chargeable with ad-valorem duty, namely:-

(i)       In case of instrument relating to agricultural land

(a)      land use; and

(b)      class of soil

(ii)      In case of instrument relating to any immovable property in urban and rural area except agricultural land-

(a)      area of the plot and type and built up area of construction thereon to the extent of subject matter property; and

(b)      the year of construction

Rule - 4. Annual statement of rates of immovable property.

(1)     The Collector shall prepare annual statement of rates showing average rates of land and buildings situated in urban and rural areas under his jurisdiction with the help of such other officers as may be appointed by the Collector from time to time and submit the same for approval to the Divisional Commissioner concerned latest by 31st of October of each year:

Provided that for the purpose of 1st year, the Collector shall submit the statement of average annual rates to the Divisional Commissioner within three months from the date of publication of these rules.

(2)     The data in respect of average rates of lands and buildings in urban and rural areas shall be arranged in the annual statement of rates as far as possible in ward-wise/zone-wise manner and in respect of urban properties and rural properties, tehsil-wise, block-wise, village-wise, as the case may be. For the purpose of average annual rates, property may be divided in groups/sub groups or classes after taking into account the type of land, types of construction, location and situational advantages or disadvantages of the property. While working out the rate of land and buildings, the concerned officers shall take into account the established principles of valuation and any other details that they may deem necessary.

(3)     The Divisional Commissioner concerned shall by an order issue annual statement of market rates showing rate of land and buildings situated in urban and rural areas every year on 1st day of January, taking into account the rates of land and buildings prepared and submitted to him by the collector.[1]

Provided that for the purpose of the 1st year, the Divisional Commissioner concerned shall prepare and issue annual statement of market rates within four months from the date of publication of these rules.

(4)     If the Divisional Commissioner concerned is not in a position to issue annual statement of market rates as mentioned in sub-rule (3) above, on 1st day of January in any year clue to any administrative difficulty, the rates mentioned in the annual statement of market rates for the year immediately preceding may be incremented by him in consultation with the collector, keeping in view the increase in market rates of immovable properties.

(5)     The Divisional Commissioner concerned shall annually send to the Registration Officer concerned a copy of the annual statement of market rates within his jurisdiction. Every Registering Officer shall cause a copy of the above statement to be affixed outside the Registration office.

(6)     Every Registering, Officer, shall, when the instrument is produced before him for registration, verify in each case the market value of land and buildings, etc, as the case may be, from the annual statement of market rates and if he finds the market value as stated in the instrument, less than the minimum value prescribed by the annual statement, he shall refer the same to the Collector of the District for determination of the true market value of the property which is the subject matter of the instrument and the proper duty payable thereon:

Provided that whenever a certificate about market value of a particular property is issued by ah Appropriate Authority under provisions of Income-tax Act or any other law for the time being in force or if a property is sold or allotted by Government or Semi-Government body or a Government Undertaking or a local Authority on the basis of predetermined price, then value stated in such certificate is issued by appropriate authority or determined by the bodies referred to above, shall be true market value of the subject  matter properly:

Provided further that where the market-value has been stated in accordance with, or more than that, prescribed in the statement issued by the Divisional Commissioner, but the Registering Officer has reason to believe that the true valuation of the immoveable property cannot be arrived at without having recource to local enquiry or extraneous evidence he may, before registering such instrument, refer the same to the Collector of the District for determination of true market-value of property and the proper duty payable thereon.

(7)     The Registering officers shall send to the Collector of the District, the extract of the register in respect of the instruments presented for registration in which consideration for the subject property is stated to be more than the annual statement of rates by 30th day of the following month.

(8)     The officers appointed under the Land Acquisition Act, or any other Act for the time being in force in respect of acquisition of land and properties for public purpose shall, whenever the amount of compensation awarded by them is higher than the one payable on the basis of annual statement of rates issued by the Divisional Commissioner under sub-rules (3) and (4) above, send a copy of such award to the Collector of the District referred to in sub-rule (7) above, within 30 days from the date of payment of compensation.

Rule - 5. Forms to obtain the information regarding subject matter property.

Every Registering Officer shall obtain information in respect of subject matter property from the person presenting an instrument for registration in any one or more of the following forms having regard to the nature and location of the property and require such person to fill in the same in the following respects, namely:-

(a)      in case of properties in urban areas, "Form II"

(b)      in case of properties in rural areas, "Form III";

Provided that where the subject matter of the instrument relates to agricultural land comprising of different survey/block numbers or their subdivision or different pieces of properties, information on separate forms for survey/block number and sub-divisions of each such piece of property shall be obtained.

Rule - 6. Procedure to be followed by the Collector for determination of true market value of property under section 31.

Where any instrument of the nature described in section 31 is referred to the Collector of the District under section 31 for determination of the true market value of the property which is the subject matter of such instrument and the proper duty payable thereon, or where the Collector of the District on his own proposes to examine the instrument for the purpose of satisfying himself as to the correctness of the market value of the property which is subject matter of the instrument and proper duty payable thereon, the Collector of the District shall hold an inquiry as per the following procedure,-

(I)      As soon as may be, after the receipt of the reference or his decision to proceed in the matter on his own, the Collector of the District shall issue a notice in Form -I to every person by whom and to every person in whose favour, the instrument is executed requiring every such person to submit, within 30 days from the date of service of notice upon him, his representation in writing to show that the market value of the property set forth in the instrument is the true market value to the best of his knowledge.

(II)     The Collector of the District may, if he thinks fit so to do,-

(a)      record the statement of the person on whom the notice has been served and may for the purpose of enquiry,

(i)       call for any information or record from any public office, officer or authority under the Government or any local authority;

(ii)      record statement from any member of the public, officer or authority under the Government or any local authority,

(b)      call upon the parties to be present on the date specified in the notice and on such other day as may be fixed by him from time to time and intimate that the-matter would be heard ex-parte. If the party fails to appear on the due date.

(III)   On hearing the parties and after considering the objections, if any, received in writing and all the relevant factors and evidence placed before him at the hearing of the matter, the Collector of the District shall pass a final order determining the true market value of the property and the duty payable on the instrument and penalties, if any, imposed and communicate the order to the parties. Thereafter, he shall take steps to collect the difference in the amount of stamp duty and penalty, if any.

(IV)   A copy of the order together with the record received from the Registering Officer, or as the case may be, the person referred to in the section 33, shall thereafter be returned to him for record.

Rule - 7. Appearance through Advocates or authorized agents in inquiries.

In any inquiry under these rules any party to an instrument may appear either in person or through an Advocate or any authorized agent.

Rule - 8. Manner of service of notice and order to the parties.

Any notice or order under these rules shall be served in the following manner:-

(I)      In the case of any company, society or association of individuals whether incorporated or not, the notice or order shall be served,-

(a)      On the Secretary or any Director or other Principal officer of the company, society or association of individuals, as the case may be;

or

(b)      by sending it by registered post with acknowledgement due, ad-dressed to the company, society or association of individuals, as the case may be, at its registered office or if there is no registered Office, at the place where the company, society or association of individuals, as the case may be, carries on business.

(II)     In the case of any firm, the notice or order shall be served,

(a)      upon any one or more of its partners; or

(b)      at the Principal place at which the partnership business is carried on, upon any person having control or management of the partner-snip business at the time of service.

(III)   In the case of a family, the notice or order shall be served upon the person in management of such family or of the property of such family.

(IV)   In the case of any individual, person, the notice or order shall be served,-

(a)      by delivering or tendering the notice or order to the person concerned or to his counsel or authorized agent; or

(b)      by delivering or tendering the notice or order to some adult member of the family; or

(c)      by sending the notice or order to the person concerned by registered post with acknowledgement due; and

(d)      in case none of the aforesaid modes of service is practicable then by affixing the notice or order at some conspicuous part of the last known place of residence or business of the person concerned.