The Hindu : Compounding system on land value announced

Online edition of India's National Newspaper
Friday, Jul 26, 2002

Southern States

Southern States - Kerala

Compounding system on land value announced

By Our Special Correspondent

THIRUVANANTHAPURAM July 25. The Government has announced a compounding system to tide over the problem of under-valuation of land value. Under the one-time compounding system, persons facing charges of under-valuation can avoid penal action by paying 30 per cent of the stamp duty and registration fee additionally assessed by the authorities concerned. The offer would be applicable to all under-valuation cases up to March 31, 2002.Making a special statement in the Assembly today, the Registration Minister, C.F. Thomas, said the Government had also initiated steps to withdraw revenue recovery measures in pending under-valuation cases and to bring these under the compounding system. However, persons who have paid the amounts assessed by the officers concerned in part or full would not be covered by the compounding system, he said.

Mr. Thomas said the compounding system would be valid for a year from the date of issue of notification.

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