: Puducherry government today announced that the revised Guide Line Register (GLR) value of immovable properties in the Union Territory will come into force from October 1.
A circular of the Inspector General of Registration Dr V Candavelou issued to all Sub Collectors and Deputy Collectors in the UT and outlying region of Karaikal said the GLR value has been brought down by 25 per cent of the existing rate as announced by the Chief Minister in the assembly recently.
The circular said the existing GLR value notified for the year 2015-16 will continue to be applicable for the period July 1, 2016 to September 30, 2016.
The GLR value determines the stamp duty for execution of the properties.
The GLR for the year 2015-16 has been reduced by 25 per cent of the existing values and the revised rate should be adopted for the year 2016-17 from October 1, it said.
The Karaikal District Collector has also been informed of implementation of the revised GLR for registrering properties.
The GLR is the rate fixed by the government for properties situated in various locations.
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