Punjab revenue department is all set to implement new software for registration of property from January 1st, 2011 in which by filling the details of the property, there would be no discretion of registration authority left to lower or enhance stamp duty.
According to the new formula, discretion of Authority in fixing stamp duty for building portion of property has also been done away. In case of building cost of construction would be 10 percent cost of land for the ground floor and 5 percent additional for every consecutive floor. A standardised property registration document has been drafted by the Department that would be implemented from January 1st, 2011 and that would save buyers and sellers from litigation. All affidavits to be filled at the time of property registering have been done away with and has been replaced by self declaration. All land records would be on web by 31st March 2011 and two districts including Sangrur and Barnala stand fully computerised.
Major amendments in Punjab Land Reforms Act 1972, The Punjab Security of Land Tenure Act 1953, PEPSU Tenancy and Agricultural Lands Act 1955, Punjab Land Revenue Act 1887 and these amendments besides reducing litigation, would bring down the levels of appeal from 15 to 5, making the litigation simpler and faster.
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