Land Registry Fees : The registration fee for land in Bhojpur district is likely to be increased soon. In this regard, the Registration Department has already started a survey process. Once the survey is completed, the District Evaluation Committee from the district headquarters will send its proposal to the state headquarters.
After this, there is a strong possibility that the department will revise the land values by December or within this financial year. Once the new system is implemented, buying and selling land will become more expensive.
Green Signal Given to the District Headquarters
After the completion of the Assembly elections, the Registration Department is preparing to increase the Minimum Value Register (MVR) for land. In this process, the district headquarters has received a green signal from the state headquarters.
Following the approval from the state, a survey has been ongoing in the district for the past week. During the land registration process, wherever officials and staff are going for land verification, they are carrying a department-issued form along with them.
Survey of Residential Lands
In this form, the market value of the land is being recorded and compared with the previous value to prepare a report. In rural areas, land is being surveyed under categories such as agricultural, developing, residential, and commercial. Similarly, in urban areas, surveys are being conducted for residential and commercial lands located on main roads, primary roads, and branch roads.
After the completion of the survey in all areas of the district, the report will be submitted at the district headquarters. After that, under the chairmanship of the District Magistrate (DM), the District Evaluation Committee will discuss the matter and forward the proposal to the State Registration Office. Once approved from the state level, it will be passed as an official proposal and the land value will be increased.
Land Value to Increase by 40% to 100%
In the past 9 to 12 years, land values have not been revised. The MVR for rural land was last revised in 2013 and for urban areas in 2016.
Now, after the elections, the values are being revised. In urban areas, land values are expected to increase by at least 40%, while in rural areas they may increase by up to 100%.
Market Value of Land Increased by More Than 700%
In the last 13 years, several national and state highways have been constructed in Bhojpur district. Along with continuous inflation, this has led to an increase in the market value of land by 400% to 700% compared to the government rate.
After becoming aware of this, the department is now planning to increase the official values in order to raise its revenue.