How I know the fair value of my property in Kerala?


Fair value of a land is the minimum amount to be shown in a document for registration. Kerala is one of the few states where fair value of land introduced legally. Here comes the detailed information about fair value of Kerala.

Fair value is the minimum amount one needs to show in a document for registration purpose. One cannot register a document without showing the fair value published by the government. Kerala is one of few states where fair value is legally implemented. In Kerala all documents except Will should show fair value for registration purpose from April 2010 onwards.

Sale deed, Gift deed, Partition deed, Release deed, Mortgage deed, and Will are the major type of such documents in the state. Sale deed is the most important document as far as fair value is concerned. In Sale deed one party agrees to sell his property to another accepting consideration or money. Consideration is important aspect of Sale deed. Suppose A sells property to B for Rs. ten lakh, that ten lakh is the consideration.

How fair value is determined in Kerala?


A property is usually identified by its survey number. Fair value is actually given to these survey numbers. There are two types of survey numbers that prevail in Kerala. The first one is old survey number and the second is re survey number. When resurvey of land is completed, the old survey number changes to resurvey number.

The Revenue Divisional Officer, RDO, is the legal authority who fixes fair value of land in Kerala. There are many criteria for the fixation of fair value of a land and the main criteria is approachability of roads. Lands are classified on various grounds such as commercially important plot, wet land, residential plot with vehicular access, residential plot with vehicular without vehicular access, government property, paddy land, rocky land etc. Commercially important plot bears maximum fair value and paddy land bears low value.

What if a document presented without showing fair value of land in Kerala?


All documents are legally rejected by the concerned Sub Registrar if presented without showing fair value. There are some few survey numbers in the state that miss fair value in the notification. Can I register a document for which fair value is not fixed by the authority? The answer is YES. Sub registrars should register such documents and once fair value is fixed the parties need to pay the additional amount if any. The undervaluation procedure will be taken against the parties who show amount less that fair value of land in Kerala. Legal action may extend up to Revenue Recovery proceedings.

How to know the fair value of my property in Kerala?


The Registration Department is a fully computerized department and one can know the fair value of their land online. One needs to go to the website http://www.igr.kerala.gov.in/ for getting information about the fair value of land of Kerala.

There are some columns like district, RDO, village, block, survey number, resurvey number and you should fill these columns.

Fair value of Kerala

50 % increase in fair value in Kerala


As per the recent amendment Kerala government increased fair value by 50 % of the present value. Right now the website is not showing the enhanced fair value. One should add 50 % more than the value shown the website to know the real fair value of their land.

Read Latest land registration charges and stamp duty for land registration in Kerala


Comments

Guest Author: Sankar24 May 2016

If previous owner registered the property for higher value, (more than guidance for loan reasons etc) how is the new valuation arrived at? Can the buyer register at current fair value? Please let me know.

If not, what is the criteria for valuation?



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