30/05/2013
Official land rates to hit a new high
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South Goa tops the list and massive hike in some places
TEAM HERALD
[email protected]
PANJIM: South Goa has seen the greatest increase in official minimum land rates as the government proposed an increase in minimum land rates to hike stamp duty in sync with the actual rate of properties in the market.
Property rates in Goa have seen a dizzy rise with rates in prime areas such as Dona Paula, Panjim and the coastal belt competing with those of Indian metros. However, official rates in the State are as low Rs 25 per square metre in certain areas.
The notification under sub-rule (3) of Rule 4 of the Goa Stamp (Determination of true market value of property) Rules, 2003 has given the minimum land rates for the year 2013-14 (which come into effect from January 1, 2013 and goes up to December 31, 2014 and asked for suggestions from the public.
The minimum rates are base values, applicable to S1 zone and upto an area of 1000 square metres.
The capital city sees rates have doubled from Rs 2,500 per square metre to Rs 5000 per square metres like the urban suburb Taleigao wheres rate have also doubled from Rs 2000 to 4000.
Margao, on the other hand, has seen its rates rise from Rs 2,550 to 7750 in some areas and Rs 1,500 to 9098 in others, while at Sernabatim the rates increased to Rs 7750 from 400.
At Colva and Benaulim, which are also tourist hotspots rates have risen from Rs 800 and 500 to Rs 3500 and 4166 respectively.
In North Goa, in Guirim and Pilerne rates have jumped ten times from Rs 500 to 5000 while in Candolim and Calangute the rates have gone up five times from Rs 1000 to 5000. The actual market rates are at least four to five times more than the government’s minimum rates.
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