If you want to buy land you should definitely know the price of the property. When you seek the help of brokers,they will charge a huge price. It leads to great financial loss. We can see how to find out the price of a land by looking at the revenue department website. To avoid speculation over the property prices , the state government fixes the fair value for the land. It is applicable on houses and flats,additional fees have to be paid for construction after adjusting against depreciation.
We can check the fair value of land easily.
How to check value of a land
- Visit the official website of IGR kerala portal.
- Click search fair value of land option.
- Enter district, RDO,Taluk,village,land type,etc.
- Then enter block number survey number, survey sub division number, resurvey number, re survey sub division number.
- We will get resurvey number in adharam.
- Click the view fair value option.
- You can see the value of the land.
- 1R =2.47 cent
Eg :according to 123 /1 survey number, 1 cent = 54450 ÷ 2.47 = Rs 22045
You can see the fair value of particular villages, survey numbers.
- These values were last updated as per the notification published in March 2020.The department is not responsible for incorrectness of data.you should verify original notification issued by RDO.
Fair value of a land is set by kerala .we can use IGR portal to calculate exact value of land.The fair value is the fixed value by the state authorities. But the market value is set by the marketplace based on overall demand. Fair value is considered for stamp duty and registration deeds.declared transaction value lower than fair value of land.
According to the latest order,the property tax assessment in Kerala is linked to the fair value of land. The urban affairs department has prepared basic tax rates ,fair value of various categories of buildings. The purpose of this list is residential, commercial, industrial, educational, theaters, hospitals, assembly buildings,resorts,parks and mobile towers.
Now , a new regime was introduced in which the tax was collected based on the area. In February 2020,the Kerala government announced a hike in the fair value of land by up to 30 %.The market price of land can be determined without visiting the property. We can determine the market price of land with supply and demand, condition of property and past transactions of properties. If the land is adjacent to the main road , it has greater value. Location plays a biggest role .Determining the value of land comes from the quality of construction of the building standing on it.