30 to 50 percent increase in guidance value of properties starting from Oct. 1
Mysore/Mysuru: The Department of Stamps and Registration, operating through its 256 Sub-Registrars’ Offices across the State, is currently experiencing a surge in revenue collection from stamp duty and registration fees ahead of the upcoming increase in the guidance value of properties starting from tomorrow (Oct. 1).
Effective from tomorrow, the guidance value of properties will see a 30 percent rise, which will extend to 50 percent in urban areas and densely populated IT corridors. This adjustment will lead to an increase in stamp duty and registration fees. In anticipation of higher demand, all Sub-Registrars’ Offices have been operating from 8 am to 8 pm since Sept. 22, culminating tonight as the old guidance value ends.
In Mysuru, the Department has already collected a significant amount, totalling Rs. 6,10,54,991 (from Sept. 22 to Sept. 30) from 774 properties as of this morning, with figures expected to rise further by 8 pm today.
The extension of working hours has proven to be a windfall for the Government. Statewide, reports indicate that revenue exceeded the Rs. 300 crore mark on Wednesday, Sept. 27.
In Mysuru district, there are a total of 14 Sub-Registrar Offices, including five within the city limits. The city Sub-Registrar Offices are located in Mysuru East (Dr. Rajkumar Road), Mysuru West (near Vijayanagar Water Tank), Mysuru North (Mini Vidhana Soudha, Nazarbad), Mysuru South (Ramakrishnanagar) and MUDA Office.
Additionally, there are nine Sub-Registrar Offices in Mysuru district, situated in T. Narasipur, Bannur, Nanjangud, K.R. Nagar, Mirle, Periyapatna, Bettadapura, Hunsur and H.D. Kote. Officials have worked diligently, even during bandh days on Tuesday (Sept. 26) and Thursday (Sept. 29), to process applications and clear the backlog.
Officials credit this remarkable achievement to the state-of-the-art, technologically advanced Kaveri-2 software, designed to expedite property registration processes and enable efficient handling of a record number of registrations.
The citizen-friendly Kaveri-2 software ensures that most tasks can be completed online from home, with only a brief 10-minute visit to the Sub-Registrar’s Office required. The adoption of Kaveri-2 software has greatly streamlined operations, reducing the need for in-person interactions and enhancing efficiency in the process, according to officials.