Kolkata Increases Land Mutation Rates

Kolkata has hiked land mutation rate hardly at all in respect of agricultural land, but the major leap has been attributed to commercial property in the city. This is an effort to strengthen state revenue Mamata Banerjee government has raised land mutation charges, changeable from 40% to 100% with a supplementary cumulative boost depending on land sizes. If you are thinking to buy commercial property in Kolkata, complete your investment before this scheme carries through. The least amount of increment has been added on agricultural land and commercial properties receive a big jump on mutation charge augmentation.

The official notification now made public in the BLLRO offices across the state shows up to reflect the former government objective to hike land mutation rates back in 2005. As left government scrapped the idea of doing so, as a result the entire process is coming after a decade delay after the origination of the plan of rate change.

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These sources point toward the land demarcation under the rules will continue to be the same. It screens rural chaffs of Bengal, Municipality areas which are not part of KMDA and last of all KMDA areas. The latest mutation fees will be decided by three board heads- agricultural land, non-agricultural and non-commercial land or residential land and commercial land.
The latest hike will be effective from February 2017, increases the mutation rates across all extents. The biggest gush, though, has been saved for the commercial plots.

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A senior state official argued, “A cursory glance may indicate a huge increase. But this is far from being so. For the last decade the land mutation charges have been stagnant. In this period the land prices have increased manifold. The attempt is to make the land mutation charges proportional to the much higher property values.” However, critics designate that the Trinamool Congress ruled Kolkata Municipal Corporation has been unenthusiastic to amplify the land mutation charges, where the parallel logic is valid.

The official also disagreed on the fact that flat land mutation rates have been preserved for agricultural and homestead land state-wide and additional charges are only relevant to KMDA areas marginal Kolkata.

_ By LNN(Liyans News Network)