Odisha to rope in experts to benchmark land prices

The Cabinet decides to change Odisha Stamp Rules which will allow appointment of experts in the form of chartered valuers

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The Odisha government has decided to rope in experts in the form of chartered valuers in panels that fix benchmark valuation of land. This will be done through amendment in the existing Odisha Stamp Rules.

“Under the existing rules, there is no provision of keeping an expert in the panel that determines benchmark valuation of land. The Cabinet has now decided to change the Odisha Stamp Rules which will allow appointment of experts in the form of chartered valuers,” said chief secretary B K Patnaik after the Cabinet meet.

The Cabinet also decided to repeal the prevailing Odisha Self-Help Cooperative Act, 2001 in order to bring all cooperative societies under Odisha Cooperative Act, 1962 which had been amended in sync with the 97th amendment of the Constitution effected on February 15, 2012.

With the repeal of the Act, no new cooperative society can be registered under it, said Patnaik.

The state had 1,634 operational self-help cooperative societies but they did not come under the administrative control of the registrar, cooperation.

All cooperative societies will now be governed under Odisha Cooperative Act, 1962.

“The prevailing self-help cooperative societies will be given three months to change their by-laws. Else, the registrar of cooperation will take over them and make necessary changes,” said Patnaik.

The Cabinet also decided to allot 0.85 acre land plot to UCO Bank at Jagatsinghpur free of cost to enable establishment of a Rural Self Employment Training Institute (RSETI).