K'taka eyes to garner Rs 840 cr revenue on guidance hike

State has proposed to have MoUs to collect additional revenue

The Karnataka government expects additional revenue of Rs 840 crore following upward revision of guidance market value of properties, including Rs 614 crore in Bangalore Urban district, by way of increase in registration fee and stamp duty following the measure.

Revenue Minister V Srinivasa Prasad said in reply to question from H D Revanna (JD-S) in the Legislative Assembly that guidance value has been revised upwards in 25 districts on an average of about 30 per cent, while the process to do it is on in the remaining five districts. The government expects to garner additional Rs 226 crore from the remaining 29 districts from the measure, he said.

Revenue from stamps and registration is the third largest source of revenue for the Government, officials said. For the present year, a revenue collection of Rs 6,500 crore has been fixed by the Department of Stamps and Registration, which is being reorganised and modernised for achieving this target.

By bringing property and land registration services under "Sakala" scheme, the public can now have their documents registered within a day, it was noted.

The Congress government in Karnataka has also proposed to create a permanent dedicated valuation cell in the State with adequate staff so as to continuously monitor market values and advise on revision of guidance values.

It has also proposed to have MoU with Airport Authority, Port Authority and banks to collect additional revenue from stamp duty on instruments relating to import of goods, officials said.

Meanwhile, Karnataka would soon issue appointment orders to recruit 1,834 surveyors across the state, Revenue minister V Srinivasa Prasad informed the Legislative Council.

In a reply to Rajiv P (BSR Congress) during question hour, Prasad said the Karnataka Examination Authority conducted the examination and a decision has been taken to appoint 1,834 surveyors. A proposal would placed before the next Cabinet meeting for approval, and recruitment orders would be issued within a week, he said.

Sanctioned surveyors' posts are 4,012. Presently, 1,772 surveyors are working and 2,240 posts are vacant. Recruitment process was completed and eligible 1,834 surveyors would be appointed. The minister also said the remuneration of surveyors would be hiked significantly.