ASR (Ready Reckoner) Guidelines- Rest of Maharashtra-2015

It is necessary to take into consideration the following factors while valuing tenanted properties.

(a) To ascertain the extent of construction on all floors of the property i.e. the permissible construction area as per rules.

(b) To calculate the total area in the possession of tenants.

(c) To calculate the total monthly rent payable by the tenants.

(d) To ascertain the nature, area, age etc. of the construction in the possession of the landlord, apart from the tenant occupied construction area.

Suppose:-

1] Total Area of Plot                                        =   X Sq.mtrs.

2] Permissible Floor Space Index (FSI)          =         Y

3] Total permissible construction area on

the property                                                =  X x Y Sq.mtrs.

4] Total area of the property occupied by

the tenants                                                   =  N Sq.mtrs.

5] Built-up area of the property

in the possession of the landlord                 =      H

6] Total monthly rent payable by the tenants   =  B Rs/-

Example 1:- If the total area occupied by the tenants exceeds the total permissible construction  area on that property as per the rules, that is to say, if ‘N’ area is more than the X x Y area, then the value of the property should be calculated as follows:-

   Valuation in Municipal Corporation Area= 16x7xB= Rs.112xB

Valuation in Areas other than Municipal Corporation Areas= 16x9xB= Rs.144xB

Example 2:- If the total area occupied by the tenants is less than the total permissible construction area on that property as per the rules, that is to say, if ‘N’ area is less than X x Y area, then the value of the property should be calculated as follows:-

= 112B or 144B + {[(X x Y)-N-H] x (Rate of land as per the Annual Statement of Rates)} + (H x Rate of Sale for the concerned user after deduction of depreciation.)

Note:- 1] While determining the value of the old tenanted buildings which are sold in the prevailing condition of the property (including tenancy rights) or where only the rights of the land owners are transferred, it will be mandatory to obtain the Certificate of the concerned Competent Authority e.g. Municipal Corporations/Municipal Councils/Nagar Panchayats/New Town Development Authority /Special Planning Authority etc. or the Certificate of their registered Architects/Engineers regarding the permissible Floor space area. If such certificate of the Competent Authority/registered Architect/Engineer is presented, the permissible Floor Space Index in terms thereof should be taken into consideration. If the certificate is not presented, 3.00 Floor Space Index should be taken into consideration for the Gaothan/similar densely populated areas indicated under the Development Plans of Thane, Kalyan-Dombivali, Bhivandi-Nizampur and Mira-Bhayander Municipal Corporations and 2.00 FSI should be taken into consideration for the areas outside such Gaothan/similar densely populated areas. 2.25 Floor Space Index should be taken into consideration for the Gaothan/similar densely populated areas indicated under the Development Plans of Solapur and Kolhapur Municipal Corporations and 1.25 FSI should be taken into consideration for the areas outside such Gaothan/similar densely populated areas. 2.00 Floor Space Index should be taken into consideration for the Gaothan/similar densely populated areas indicated under the Development Plans of all the remaining Municipal Corporations and 1.00 FSI should be taken into consideration for the areas outside such Gaothan/similar densely populated areas. 2.15 Floor Space Index should be taken into consideration for the Gaothan/similar densely populated areas indicated under the Development Plans of all Municipal Councils and 1.15 FSI should be taken into consideration for the areas outside such Gaothan/similar densely populated areas.

2] If a tenanted old building is redeveloped under a Development Agreement, detailed valuation should be done in the Adjudication as per section 31 of the Maharashtra Stamp Act, 1958.

2.1] Valuation to be done where tenant from the old building is allotted premises in the new building:-

      (a) where tenant is allotted premises in the new building on the same plot which is equal to the construction area occupied by him in the old building, such premises should be valued by adding up to the aforestated sum of 112 x B or 144 x B, the amount calculated as per the new rate of construction vis-à-vis the area allotted to the tenant in accordance with the classification of construction prescribed under Appendix B.

      (b) where area of the premises allotted to the tenant in the new building exceeds the area in the old building, the construction area equal to the area in the old building should be valued as per clause (a) above and the additional construction area valued as per the rates of residence/shops/offices under the Annual Statement of Rates should be added thereto.

2.2] If a tenant is buying a tenant occupied property, then in such case 40% valuation of the occupied area as per the market rate should be taken into consideration. If the tenant is buying additional area of the landlord apart from such occupied area, then such area should be valued as per the permissible FSI and on the amount so worked out stamp duty should be levied. If a Deed of Tenancy Transfer subsequent to the year 2005 is registered, the stamp duty should be levied on the amount of difference between the value which was formerly taken into consideration and today’s valuation.

Notes for Guideline Nos. 1 and 2:-

(a) The above referred Guideline Nos. 1 and 2 apply only to such tenant and the area occupied by him, who is treated as a tenant within the meaning of the repealed Bombay Rent Control Act, 1947 and section 7(15)(c) of the Maharashtra Rent Control Act, 1999. While seeking the above referred exemption, the concerned parties must furnish proofs regarding the occupation of such tenant in the building since March 30, 2000 or about the occupation of a person for the last 5 years in tenanted capacity, where he has acquired such tenanted rights under a duly registered Deed thereafter. e.g. Property Tax extract of the Municipal Corporation regarding the name of the tenant, Electricity Bill in the name of the tenant, Telephone Bill, Rent Receipts, Ration Card, Trade Licence issued by the Municipal Corporation, entry in the Voter’s List for the year 1995. Such exemption can be granted only if minimum three such proofs or any three proofs as mentioned in the G.R No. Loka.Aa.2007/Pra.kra.120(a)/Du.va.pu-1, dt. 16/08/2010 issued by the Housing Department of the Government are furnished. When the instrument is presented for registration, the detailed particulars about the area in the occupation of the tenants and the rent to be charged should be mentioned in the instrument and such instrument along with proofs should be lodged in the office of the Sub-Registrar, minimum eight days in advance. All the above referred proofs shall form a part of the documents accompanying the original instrument. Sub-Registrars should register such instruments only when they verify a person as a tenant from the documents furnished as proof. The rights flowing from the instrument of Leave & Licence shall not be eligible for such exemption.

(b) While determining the permissible construction area on such property, it is also necessary to take into consideration the Incentive FSI permissible under the Development Control Regulations.

Depreciation:- The valuation of old building after deduction of depreciation as per their age shall be considered as stated in the table below:-

Note:-

1] If, the determination of valuation of the old property yields a value which is less than the rate of land, such property should be valued as per Guideline No. 6. After carrying out valuation as per both these guidelines, the higher value should be taken into consideration.

2] Where Occupation Certificate is not available for determining the depreciation, other proofs e.g. Acknowledgment copy of the application made to the Municipal Corporation/Municipal Council for issue of occupation certificate, certificate about payment of Municipal Corporation/Municipal Council/Gram Panchayat taxes or other proof about completion/possession of building such as Electricity Bill, Telephone Bill and society certificate, of these one proof should be taken into consideration.

The rates stated in the Annual Statement of Rates pertain to the built-up area. If the instrument mentions carpet area, it should be valued after calculating the built-up area as follows. However, if the instrument contains any other reference about the built-up area other than carpet area, valuation should be carried out on the basis of the area mentioned in the instrument. However, for Open Parking and Terrace, only the stated area should be taken into consideration.

Built-up Area= 1.2 x Carpet Area

OR

Carpet Area= Built-up Area/1.2

(a)(i) only a residential Flat under Cluster Housing Project should be valued on the basis of the rate of value assigned to a residential flat in the concerned valuation zone of the Annual Statement of Rates.

   (ii) while valuing a Row-House/Penthouse/Duplex/Bungalow constructed on a plot within the limits of Thane/Kalyan-Dombivali/Mira-Bhayandar/UlhasNagar/Bhivandi-Nizampur/New Mumbai/Nashik/Pune/Pimpari-Chinchawad/Aurangabad/Nagpur Municipal Corporations under a Cluster Housing Project with the construction area thereof exceeding 120 sq.mt, 25% additional rate over the rate assigned to a residential flat in the concerned Zone should be taken into consideration. However, if the said Row-House/Penthouse/Duplex/Bungalow do not have any RCC slab and if the construction is of any other pucca or half-pucca type, the said property should be valued by taking into consideration only 10% additional rate over the rate of a residential flat.

   (iii) while valuing a Row-House/Penthouse/Duplex/Bungalow constructed within the limits of all the remaining Municipal Corporations/Municipal Councils/Nagar Panchayats/Influence Areas other than the aforesaid Municipal areas under a Cluster Housing Project with the construction area thereof exceeding 120 sq.mt, the property should be valued by taking into account 10% additional rate over the rate assigned to a residential flat in the concerned Zone. However, if the buildings of the said type do not have any RCC slab and if the construction is of other pucca or half-pucca type, the said property should be valued at the rate of a flat.

   (iv) a Row-House/Penthouse/Duplex/Bungalow with area less than 120 sq.mt. constructed within the limits of all Municipal Corporations/Municipal Councils/Nagar Panchayats/Influence areas under a Cluster Housing Project should be valued at the rate of a residential flat in the concerned Zone.

   (v) in case of a Row-House/Bungalow/Building constructed by any co-operative housing society otherwise than under a Cluster Housing Project on a plot having independent sanctioned Layout, if no separate valuation Zone or rate is prescribed, such property should be valued as per Guideline No. 6(1)(a).

(b) In case of a larger residential project comprising 2 to 10 hectares area within the limits of Thane/Kalyan-Dombivali/Mira-Bhayandar/Ulhas Nagar/Bhivandi-Nizampur/New Mumbai/Nashik/Pune/Pimpari Chinchwad/Aurangabad/Nagpur Municipal Corporations, if no separate valuation zone is prescribed for such housing project in the Annual Statement of Rates, 105% rate of the flat/shop/office situated in the valuation zone where such project is located, should be taken into consideration and in case of a project exceeding 10 hectares area, 110% rate of the flat/shop/office of such valuation zone should be taken into consideration. In the areas of all other Municipal Corporations/Municipal Councils, if no separate valuation zone is prescribed in the Annual Statement of Rates for a larger residential housing project comprising 1.0 hectare to 2.0 hectare area, 105% rate of the flat/shop/office situated in the valuation zone where such project is located, should be taken into consideration and in case of a project located on a larger area 110% rate of the flat/shop/office should be taken into consideration. While valuing a Row-House/Penthouse/Duplex/Bungalow in the said project with an area exceeding 120 Sq.mt, 20% and 15% additional rates over the rates of flats as enhanced hereinbefore should be adopted respectively. For the valuation of a Row-House/Penthouse/Duplex/Bungalow in the said project with an area less than 120 Sq.mt., 105% and 110% of the rates prescribed for the flats in the concerned valuation zone, subject to the area limits of the project in the aforestated concerned Municipalities should be adopted.

Valuation of properties for various users, where Statement of Rates does not prescribe separate rates or where the valuation carried out as per Guideline No.3 is less than the value of land:-

Residential property, office on the upper floor/occupational units & shops on the ground floor/occupational and industrial user properties should be valued on the basis of relevant land rates and construction classification rates as follows.

(i) Residential Property:-

    (a) Residential building/bungalow on an independent plot= value of land + value of construction as per depreciation

    (b) Residential Flat= (Rate of land+ Rate of construction as per depreciation) x 1.15 x Area of Flat

Guideline at Sr.No.5 above shall apply to the area of a flat. In the context of the floor where a flat is situated, the following Guidelines at Sr. Nos. 18 and 19 shall apply.

(ii) Commercial Property:-

    (a) Commercial building on a separate plot= (Area of land x Rate of land) + (Construction Area x Rate of construction as per depreciation) x 1.5

    (b) Shop Premises/occupational/commercial premises/offices on the ground floor= (Rate of land + Rate of construction as per depreciation) x 1.50 x Area of the premises.

    (c) Occupational units/offices etc. on the upper floors other than ground floor = (Rate of land + Rate of construction as per depreciation) x 1.25 x Area of the premises.

(iii) Industrial Property:-

    (a) Industrial building on a separate plot = value of land + value of construction as per depreciation.

    (b) Industrial premises = (Rate of land + Rate of construction as per depreciation) x 1.20 x Area of the premises.

(iv) Valuation of any user property situated in a No-Development Zone:-

Value of Property = Total area of land x Rate of land [as per Guideline No. 16(a)] + Value of construction as per depreciation.

Valuation of dispensary, Bank, Warehouse, registered Information Technology (IT)/Information Technology Enabled Services (ITES) Units in the Information Technology Park, School and religious building:-

(a) Valuation of a warehouse, private dispensaries and banks on the ground floor facing a road should be done at the rate assigned to shops in the concerned valuation zone of the Annual Statement of Rates and if they are not facing any road, the valuation should be done at 70% the rate assigned to shops.

(b) A dispensary/hospital/bank situated on the upper floors should be valued as per clauses (c) and (d) of Guideline No.8.

(c) Registered Information Technology/Information Technology Enabled Services Units in an Information Technology Park should be valued at industrial rates instead of commercial rates as assigned in the Annual Statement of Rates. If industrial rate is not assigned, such unit should be valued at 110% the rate applicable to a residential building/flat.

(d) A school and religious building should be valued at the rate assigned to a residential flat in the concerned valuation zone of the Annual Statement of Rates.

(a) Shops facing roads:- To be valued at the rate assigned to shops in the Annual Statement of Rates.

(b) Shops not facing roads:- To be valued at 80% the rate assigned to shops in the Annual Statement of Rates. However, the rate so worked out shall not be less than the rates applicable to offices/occupational premises on the upper floors. This exemption shall be permissible only in regard to the shop premises on the ground floor/lower ground floor/upper ground floor not facing roads. The concerned Sub-Registrar shall inspect the building plan of the building mentioned in the instrument to ascertain whether the shop premises face road or not and a copy of the sanctioned plan should be annexed to the instrument as a part thereof.

(c) Shops/offices with construction area exceeding 450 sq.mt:- While valuing shops/offices with the construction area exceeding 450 Sq.mt., deduction over the rates assigned to shops/offices in the concerned valuation zone of the Annual Statement of Rates should be granted as set out herein below.

Note:- 1] For shops with larger area not facing the roads, this deduction shall be permissible over the rate worked out after taking into consideration Guideline No. 8(b). However, this deduction shall not be permissible for an office of larger area not facing road.

2] While carrying out valuation as above, instead of slab-wise valuation, the contextual direct deduction as applicable to that area should be taken into consideration.

(d) Valuation of shops in the buildings comprising larger shopping complex other than Malls:-

Note:- 1] If the rate so worked out is less than the rate applicable to an office/occupational premises on the upper floor, the rate of office/occupational premises should be taken into consideration.

2] For a shop in the aforesaid complex not facing road, the said deduction shall be permissible after taking into consideration the rate as per Guideline No. 8(b).

If no separate valuation zone/rate is prescribed for such building, the valuation of the shopping area premises/shops shall be determined as follows:-

Note:-This Guideline should not be taken into consideration, if a separate valuation zone is prescribed in the Annual Statement of Rates for Malls/Departmental Stores. In order to verify whether the premises/shops mentioned in the Instrument are situated in a Mall/Departmental Store, it shall be necessary to enclose a copy of the building plan sanctioned by the Municipal Corporation/Municipal Council with the instrument. If the rate so worked out is less than the rate applicable to an office/occupational  premises on the upper floors in the concerned valuation zone of the Annual Statement of Rates, the rate applicable to an office/occupational premises should be taken into consideration. The rate so worked out shall not be eligible for deduction as per the aforesaid Guideline No. 8(b).

Shops on the lower ground floor in a building comprising mixed users like Commercial/Residential, Public-Semi-Public/Commercial/Residential and Industrial/Commercial (except a larger Shopping Complex/Mall):-

A shop on the lower ground floor should be valued at 80% the rate applicable to a shop in the concerned zone. A shop on the upper ground floor should be valued like a ground floor shop by taking into consideration the 100% rate applicable to a shop in the concerned valuation zone of the Annual Statement of Rates.

If the basement is used for a shop/warehouse/storage apart from parking, it should be valued at 70% the rate applicable to a shop in the concerned valuation zone.

A mezzanine floor should be valued at 70% the rate applicable to the respective floor for the concerned user as specified in the Annual Statement of Rates. However, the area of a loft should not be taken into consideration for valuation.

If the rights of land abutting a flat/office/shop shown in the sanctioned building plan are assigned for parking or otherwise, such land should be valued at 40% the rate applicable to the land in the concerned valuation zone of the Annual Statement of Rates.

Terrace attached to a built-up property (flat/office/shop/industrial) excluding a bungalow on the independent plot, should be valued by taking into consideration 40% the rate applicable to the concerned user in the Annual Statement of Rates. If the terrace on the upper floor of a flat is sold along with the flat, such terrace should be valued at 25% the rate applicable to the flat under the Annual Statement of Rates. However, a terrace on the upper floor of an office/shop should be valued at 40% the rate applicable to an office/shop as per the Annual Statement of Rates (Ready Reckoner).

If any built-up property (flat/office/shop/industrial) other than a bungalow on the independent plot is provided with covered parking amenity e.g. Parking Garage, Stilt-Parking and Multi-storeyed Parking, the built-up area of such covered parking should be valued at 25% the rate after making the permissible deduction/addition to the rate of concerned user (flat/office/shop/industrial) as per the Annual Statement of Rates. However, the parking area on the open land should be valued at 40% the rate of land in the concerned valuation zone. If the instrument does not mention any parking area, a Deed of Guarantee containing an assurance that no covered or open parking area for the flat/office/shop/industrial user has been provided, should be taken and it should form a part of the instrument.

Bare land should be valued as per the Table given below. If parcels of land from the same Gatt No/Survey No sold under a Sale Deed by one or different owners can be contiguously consolidated or if the parcels of land from different survey numbers belonging to one owner can be contiguously consolidated, such consolidated areas shall be eligible for deduction as per the Tables set out in clauses (a) and (b) below under the category of bare land. However, even if the different lands/parcels of land from different survey numbers belonging to different land owners can be contiguously consolidated, such consolidated area shall not be permitted the said deduction. Moreover, the lands situated at different sites/parcels of land from different survey numbers belonging to the same land owner cannot be contiguously consolidated, such consolidation shall not be permitted the said deduction. To verify this aspect, a true copy of the Survey Plan/Village Plan should be obtained and the same should be registered as a part of the instrument.

(a) Valuation of the area situated in the Agriculture/No-Development Zone under the Regional Plan/Development Plan, areas included in the “Agricultural land” valuation zone, which are not governed by a Regional Plan or Development Plan and the valuation of areas, where sq.mt. and per hectare rates of land are prescribed.

Note:- 1] While using the above Table, valuation shall be fixed by adding up valuations for all the slabs as are mentioned in the Guideline No. 16(a).

2] Before the said Table is made applicable to the agricultural lands in the Urban and Influence areas, it shall be incumbent to verify the permissible  land user from the latest land user certificate under the Development Plan/Regional Plan i.e. the certificate not older than three months and to enclose the same with the instrument.

(b) The area included in the remaining valuation zones other than Agriculture and No-Development Zone i.e. Residential/Commercial/Industrial and other valuation zones of developable user under the Development Plan of Urban Areas as well as the area included in the probable Non-Agricultural valuation zones of the Influence Areas, which have/do not have any Regional Plan.

Note:- While using the above Table, valuation shall be fixed by adding up valuations for all the slabs as are mentioned in Guideline No. 16(b).

(c) Valuation of land/plot assessed as Non-Agricultural:-

Where the entire area under a sanctioned Layout converted to non-agricultural user such as Residential/Commercial/Industrial user etc. (inclusive of roads, open spaces, amenity area etc.) is sold, 80% of the rate as applicable to the concerned non-agricultural user under the Annual Statement of Rates should be taken into consideration for the purpose of valuation. Where only one or more plots under the sanctioned layout, excluding the roads, open spaces, amenity area etc. are sold, the direct Non-Agricultural Rate should be taken into consideration for the valuation of such areas/consolidated areas.

Plots situated further than 50 mt. distance from the road provided with a separate valuation zone/bare land comprised in a larger Survey number/Gatt number situated in the interior area further than 50 mt., should be valued by taking into consideration 70% the rate applicable to the road. It shall be necessary to enclose the Sectional Plan under the Development Plan/Regional Plan, Survey Plan of the site with the instrument in question so that it can be ascertained that the said plot is not situated within 50 mt. distance. It shall be incumbent to enclose a copy of the sanctioned Layout with the instrument before this exemption can be extended to the road facing plots in the sanctioned Layout provided with a separate valuation zone. This guideline is applicable to the lands/plots only if the road thereof is provided with separate valuation zone. This guideline shall not be applicable to the lands/plots situated in other general valuation zones as well as rural areas.

While valuing the flats in a building not equipped with lift facility, the following percentage of the Rates should be taken into consideration.

While valuing residential/occupational/office premises in a multi-storeyed building, the following increase vis-à-vis the rates applicable to the concerned valuation zone should be taken into consideration.

While calculating the number of floors, except the stilt and ground floor, all the floors above should be counted consecutively. For the shop premises or IT user in a Multi-storeyed building such increase should not be made.

(a) To check 7/12 Extract:- While valuing an agricultural land in the rural areas, 7/12 Extracts of the said land for the last 3 years should be examined and the type of land (uncultivated, unirrigated, Tari paddy, seasonally irrigated, perennially irrigated etc.) should be decided on the basis of entries therein regarding crops, water supply. If more than 50% area of the whole land grows sugarcane/orchard/flower fields by means of a well/canal/drawal irrigation, the whole area should be valued as perennially irrigated area and if less than 50% area grows sugarcane/orchard/flower fields by the above available means, the area should be valued as seasonally irrigated area.

(b) Where no rate of value is prescribed for any type of agricultural land:– Where no separate rate is prescribed for any agricultural land of unirrigated, seasonally irrigated or perennially irrigated types, the land should be valued by applying the following quantities.

Note:- This guideline shall not apply to those rural areas, where separate rates are prescribed for unirrigated, seasonally irrigated or perennially irrigated lands.

(c) Valuation of agricultural lands in the No-Development Zone within the limits of “C” class Municipal Councils:- The per hectare rates in the No-Development Zone within the limits of ‘C’ class Municipal Councils apply to unirrigated land. On the basis of 7/12 extracts, action should be taken for the seasonally irrigated land, Dhan cultivation, Tari paddy and perennially irrigated lands as per Guideline No. 20(b).

(d) The area declared as Mining Belt by the Government/Collector as well as wind energy/solar energy project:- The land in rural areas purchased/sold for such project for the first time should be valued by taking into consideration double the rate mentioned in Annual Statement of Rates (Ready Reckoner) as per the classification of agricultural revenue applicable to the land.

As regards the land in Influence and Urban areas, if the same is situated in unirrigated/agricultural No-Development Zone, it should be valued by taking into consideration double the rate in terms of per hectare rate applicable to a land in the concerned valuation zone under the Annual Statement of Rates. If per sq.mt. or per hectare and per sq.mt. rates are prescribed for the said land, instead of doubling the rate worked out after applying the Table given under Guideline No. 16(a) in respect of bare lands, the direct value should be taken into consideration. If the said land is situated in probable Non-Agricultural/Residential/Developable Zone, instead of doubling the rate worked out after applying the Table given under Guideline No. 16(b) for the bare land as applicable to the land in the concerned valuation zone, direct rate should be taken into consideration.

(e) Where the land purchased for the first time for solar energy and windmill project is sold/transferred to any other person/company after developing it with the necessary amenities, should be valued as follows after taking into account the Development charges incurred for the land:-

(i) For rural areas:- [(Per hectare rate applicable to the concerned land as per the classification of its agricultural revenue under the Annual Statement of Rates) x 2 + Rs. 15,00,000] x Area of land (Hectare).

(ii) For Influence and Urban Areas:- If only per hectare rates are prescribed for the land in unirrigated/agricultural/No-Development Zone, it should be valued as above.

If per sq.mt. or per sq.mt. and per hectare rates are prescribed for the said land, the total value should be determined after applying the table given under Guideline No. 16(a) vis-à-vis the bare land and including in such value the expense @ Rs.15,00,000/- per hectare.

If the said lands are situated in the probable Non-Agricultural/Residential/Developable Zone, the total value should be determined applying the table given under Guideline No. 16(b) vis-à-vis the bare land to the rate of value applicable to the land in the concerned valuation zone and including in such value the expenses @ Rs. 15,00,000/-per hectare.

(f) The land transferred to the Forest Department for compensatory afforestation should be valued at the rate mentioned in the Annual Statement of Rates (Ready Reckoner).

(g) If no separate valuation zone/rates are prescribed for the land situated in the No-Development Zone covered by the Development Plan as applicable to a Municipal Corporation/Municipal Council/Nagar Panchayat, the said land should be valued at 40% the rate applicable to the valuation zone where the land is included and applying to such value the Table given under Guideline No.16(a) vis-à-vis the bare land.

(a) where uncultivated or agricultural land situated in the influence or rural areas admeasuring less than 10 Are is sold and if for such land only per hectare rates are prescribed, the land should be valued at one and half times the rate, which is worked out on the basis of entries relating to crops and water supply on the concerned land. However, where separate rates are prescribed for Tari paddy (rice cultivation) under the Annual Statement of Rates, in such case if any survey number/gatt number in its entirety admeasures less than 10 Are and if the entire area thereof is being sold and the land in question does not face any road, one and half times the rate shall not be made applicable to such land.

(b) where water supply is not available for any land despite it being situated in the benefit zone and if the party encloses a certificate of the concerned Authority regarding the non-availability of water of Irrigation Department for the area to be sold, the land should be valued as per Guideline No.20.   

Where separate revenue villages have come into existence as a result of division of hamlets and if no separate rates are prescribed for such villages under the Annual Statement of Rates, the property should be valued at the rates applicable to a C.S.No./Survey No. prior to such division.

(a) where any agricultural land in the rural areas is being sold and if such land is converted to non-agricultural user, the said land/the plot comprised in such land should be valued on the basis of non-agricultural rate applicable to the village and Guideline No. 16(c) vis-à-vis the bare land.

(b) where an agricultural land in the unirrigated/agricultural valuation zone within the limits of Influence Area is sold and if such land is converted to non-agricultural user, the said land/plot comprised in such land should be valued on the basis of rate prevailing in the adjacent Non-Agricultural valuation zone of the said village with similar merits & demerits as well as Guideline No. 16(c) vis-à-vis the bare land.

(c) the rates prescribed for the non-agricultural land valuation zone in rural areas pertain to residential class of non-agricultural assessment and the lands assessed to commercial/industrial N.A user should be charged with stamp duty at 110% the rate as stated aforesaid.

(d) where a land which is not assessed to non-agricultural user is comprised in the non-agricultural valuation zone under the Statement of Rates of Influence Areas and if on such land Residential/Commercial/Industrial users are permitted as per the provisions of Regional Plan and Zonal Certificate, it should be treated as a probable non-agricultural land. Such land should be valued on the basis of rate prevailing in the adjacent probable non-agricultural valuation zone of the said village with similar merits & demerits as well as Guideline No. 16(b) pertaining to the bare land for residential user. If residential/commercial/industrial user is not so permitted, such land should be valued by applying the Table given under Guideline No. 16(a) pertaining to bare land. Furthermore, where the land in probable non-agricultural valuation zone is/has been converted to non-agricultural user and if non-agricultural rate is not prescribed for such land, the said land should be valued on the basis of rate prevailing in the adjacent non-agricultural valuation zone of the said village with similar merits & demerits as well as Guideline No. 16(c) pertaining to bare land.         

Where any agricultural land in the rural areas and Influence areas is purchased for the Farm house/Forest house, the said user should be treated as the probable non-agricultural user and the said land should be valued on the basis of the probable non-agricultural rate worked out in accordance with the Table of bare land prescribed under Guideline No. 16(a) vis-à-vis a No-Development Zone. If the statement of Rates does not prescribe probable non-agricultural rate for the said land, it should be valued on the basis of the highest rate prevailing in that Influence area for the probable non-agricultural user. As the probable non-agricultural rates are not prescribed in the rural areas, the land should be valued on the basis of 50% the rate of non-agricultural user and the Table of bare land prescribed under Guideline No. 16(a) for a No-Development Zone.     

(i) uncultivated/unfit for cultivation/uncultivated hilly lands in the Urban and Influence areas should be valued at 100% the rate prevailing in the concerned valuation zone.

(ii) Rural Areas:-

(a) Valuation of lands unfit for cultivation (Potkharab lands):- For the computation of per hectare rate, the entire assessment value on the 7/12 Extract should be divided by the entire area (not excluding uncultivated/Potkharab areas) i.e. (Value of Assessment/Area). In accordance with the rate of assessment per hectare so worked out and as per the type of land (unirrigated/irrigated/orchard) the entire area inclusive of potkharab lands should be taken into account for valuation.

(b) Valuation of uncultivated hilly lands (Dongarpad):- Valuation of Dongarpad lands in the rural areas should be done on the basis of type of unirrigated land and 75% the rate of value as per agricultural revenue. If some areas of the Dongarpad lands are classified as unirrigated/seasonally irrigated/perennially irrigated as per the 7/12 Extract, the said area should be valued as per the type of land and on the basis of rate of agricultural revenue.           

(a) Purchase for the users complementing agriculture:-

(i) on the basis of the per hectare rate, an unirrigated land should be valued at double (200%) the rate, seasonally irrigated land should be valued at triple the rate (300%) and perennially irrigated land should be valued at 400% the rate.

(ii) where separate rates are prescribed for the irrigated users e.g. flower fields, orchards, sugarcane farming etc. those rates or the rates worked out as per sub-clause (i) above, whichever being the higher rate shall form the basis of valuation.

(iii) a land purchased by a company contemplates storage/processing/research related construction/internal roads. For this generally 20% area should be taken into consideration and this 20% area should be valued at 50% the rate applicable to non-agricultural user for the said village on the basis of probable non-agricultural object.

(b) As regards any company/society other than a company/society with Agro-complementary business as its sole object, the user should be treated as probable non-agricultural user and the land should be valued at 50% the non-agricultural rate prescribed for the concerned village.

(c) If the land purchased by a company/society for the aforesaid objects is situated in the Non-Agricultural/Probable Non-Agricultural/Residential/Developable Zone within the limits of Urban and Influence Areas, it should be valued at the rate applicable to the concerned valuation zone.

Where the said land is situated in a Non-Developable Agricultural/No-Development/Unirrigated valuation zone, it should be valued at one and half time (150%) the rate applicable to the said valuation zone.

As regards the saline lands (sprouting salt), necessary enquiry should be made and such lands should be valued at 60% the rate applicable to an irrigated land. This Guideline will not apply to the lands in Urban and Influence Areas.

In case of redevelopment proposals of co-operative housing societies, if the valuation of properties included therein vis-à-vis the Annual Statement of Rates is not acceptable to the concerned parties, the instrument shall be elaborately valued by Adjudication under section 31 of the Maharashtra Stamp Act, 1958.

(a) Where private agricultural lands other than the lands in Non-Agricultural/probable Non-Agricultural valuation zones in the Urban Areas or Influence Areas are sold/transferred for the first time for Special Townships, Special Economic Zones, private Hill Stations etc, where societies/companies other than the farmers purchase agricultural land for other probable residential/industrial/commercial objects of non-agricultural nature and where government lands in the rural areas are converted to non-agricultural objects, such lands in the rural areas should be valued at 50% of the per sq.mt non-agricultural rate and on the basis of the Table of bare land given under Guideline No. 16(a) for the concerned zone, after taking into account the expenses incurred for such probable non-agricultural user/development. Where the government land in rural areas is converted for agricultural user, the rate applicable to Area Slab No.4 [5.01 to 7.50] for the valuation zone of the concerned village under the Annual Statement of Rates should be taken into consideration. Valuation of the land in Influence Areas should be carried out on the basis of the rate prevailing in the adjacent probable non-agricultural valuation zone with similar merits and demerits as well as the Table of bare land prescribed for No-Development Zone under Guideline No. 16(a).

(b) Of the lands facing Highways in rural areas (National Highway/State Highway) the area upto 4000 sq.mt. should be valued as per the Table below in view of its non-agricultural probability. Rest of the land should be valued at the per hectare rates applicable to the said village as per the classification of agricultural assessment of the land in question.

While using the above Table, valuation shall be fixed by adding up valuations under all the slabs mentioned therein.

(c) The rates prescribed for the lands along highways in rural areas pertain to any user of probable non-agricultural land and the lands along highways which are assessed to non-agricultural user should be valued at 120% the rate applicable to such land and on the basis of the Table of bare lands given under Guideline No. 16(c).

(d) As regards a Census Town in rural areas with population exceeding 5000, the land within the circumference of 200 mt. from the outskirts of a Gaothan, in view of its non-agricultural probability, should be valued at 50% the rate of non-agricultural rate applicable to that village and on the basis of the Table of bare land given under Guideline No. 16(b).

Of the area mentioned in the instrument, only the area reserved/affected by a sanctioned Development Plan should be valued at 80% the rate mentioned in the Annual Statement of Rates.

Where instruments pertaining to Development Agreement/sharing of built-up area/sharing of revenue within the limits of Thane, Kalyan-Dombivali, Mira-Bhayander, Bhivandi-Nizampur, Pune, Pimpri-Chinchawad, Nashik, Aurangabad and Nagpur Municipal Corporations mention that built-up area/revenue inclusive of the TDR area is to be shared or that TDR is to be utilised therein, the rate assigned for such land under the Annual Statement of Rates with 25% increase therein should be taken into account for the valuation.

(a) The value of share awarded to the owner of land

(i) The value of area comprised in the share of land owner as per the rate of construction.

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(ii) The value worked out after taking into consideration the monetary compensation awarded to the land owner apart from the area of construction, interest on deposit, development charges and such other factors as mentioned in the instrument (if instrument mentions interest on Deposit exceeding 10%, such rate of interest or where the rate of interest is not so mentioned, 10% simple interest should be taken into consideration.

(b) Value of the share awarded to the Developer:-

Area of the land comprised in the share of Developer x Rate of Land

Of clauses (a) and (b) above, the higher value should be taken into consideration as the market value.

(a) Value of the share awarded to the land owner:-

(i) Current Value of the land owner’s share in terms of the rate of sale having regard to the permissible user thereof x 0.85.

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(ii) The value worked out after taking into account the compensation awarded to the land owner apart from the above, interest on deposit and such other factors as mentioned in the instrument (If the instrument mentions interest on deposit exceeding 10%, such rate of interest or 10% simple rate of interest should be taken into consideration.

(b) Valuation of the whole land at the rate of land mentioned in the Annual Statement of Rates:-

Of clauses (a) and (b) above, the higher value should be taken into consideration.

Instrument concerning the flats/shops/offices etc. retained by the Developer for self-purchase in the context of Development Agreement should be valued at the rates assigned to flats/shops/offices etc under the Annual Statement of Rates after deducting therefrom the new rates of construction as per the applicable construction classification and stamp duty should be charged on the amount so calculated.

The above ambiguity should be cleared by verifying the submitted documents/plans such as the certified Survey Plan of the Department of Land Records/certified copy of the Sectional Plan under the Regional plan of the Town Planning Department/certified copy of the Sectional Plan under a Development Plan of a Municipal Council or Municipal Corporation or such factors as the description of property with the four boundaries thereof as mentioned in the instrument. However, if the instrument does not mention the factors having a bearing on the valuation or if the necessary proof in that regard does not form a part of the instrument, the said property should be valued inter-alia on the basis of the highest rate applicable to the valuation zone, where such C.S.N./S.N./G.N/I.S.N is included.      

If a property is included in the wrong valuation zone vis-à-vis its location/description or if there is any typographical error or if such property is not included in any valuation zone or if the value rates thereof are not available, the Joint District Registrar and Stamp Collector should contact the office of the concerned Assistant Director, Town Planning (Valuation) and make available to them such documents as 7/12 Extract or Property Card of the Property, Sectional Plan indicating the land use under the Development Plan, Village Plan, City Survey Office Sheet, Survey Plan and have the valuation zone and Rate of Value determined.

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