In a recent development, the minimum land rates have been revised across Goa. The revision will come into effect from August 17, 2020, and will remain applicable till March 31, 2021.
In a recent move towards increasing revenue, the Goa government has increased the base land rates after a gap of five years. The new rates, which are in the range of Rs 100 to Rs 1,000 per sq m, will come into effect from August 17, 2020, and will remain applicable till March 31, 2021. The decision will give additional revenue to the government in the form of stamp duty.
According to senior officials of the Revenue Department, even after five years, the revision in rates in minimal and it is much below the actual prices in other States. The new base rates will be applicable to the S1 zone and up to an area of 1,000 sq m.
Earlier, the attempt to increase the base rates were thwarted owing to the opposition from the builder’s body. According to the recent changes, areas have been divided into rural, urban, developing and coastal. For rural and coastal category, the revision in rates is Rs 100 to Rs 200 per sq m. In areas near to the proposed airport, the base land rates have been revised from Rs 500 per sq m to Rs 600 per sq m.
