Property deals worth Rs 20 lakh under suspicion

Chhatrapati Sambhajinagar

Reports of undervaluing properties during registration to evade government revenue are not new. Complaints frequently arise that valuers and sub-registrars in the Stamp Department work in parallel to facilitate such undervaluation.

Following suspicions of significant revenue loss in some transactions, Deputy Registrar offices were asked by Registration Deputy Inspector Vijay Bhalerao to provide details of property registrations exceeding Rs 20 lakh over the past few months. For property registration, stamp duty is charged at 7% of the declared property value. However, many try to declare a lower value to reduce stamp duty. The district has 13 sub-registrar offices, five in the city and the remaining eight in taluka areas. Complaints have been received regarding property registrations in the city and surrounding areas, where the declared value was reportedly lower than the ready reckoner rates. The Deputy Registrar’s office will verify these cases through town planners, and if discrepancies are confirmed, action will be taken against the concerned parties.

— Vijay Bhalerao, Deputy Inspector of Registration