Section 3B(13) in West Bengal Stamp (Prevention of Undervaluation of Instruments) Rules, 2001
(13)The rate per sq.ft. of market value of any flat or structure for residential use shall be determined on the basis of the highest rate on which such flat or structure of similar nature in the same locality or a comparable locality has been transacted during the five consecutive years immediately preceding the year of preparation of annual statement of rate of such flat or structure. The year-wise appreciation from the year of previous transaction to the year of preparation of the annual statement of rates per sq.ft. of the flats or structures shall be taken into consideration for the purpose of preparation of the annual statement of rates of the flat or structure.
