Section 3 in U.P. Stamp (Valuation of Property) (Third Amendment) Rules, 2015
3. Amendment of Rule 4.
- In the said rules in Rule 4 for sub-rules (1), (2) and (3) the following sub-rules shall be substituted, namely -"4. (1) The Collector of the district shall yearly, as far as possible in the month of August, fix the minimum value per hectare/per square metre of agriculture/non- agriculture land, the minimum value per square metre of construction of non commercial building and single unit shops and commercial establishments and the minimum value of carpet area per square metre for shops and commercial establishment situated in building, other than single unit commercial buildings, situated in different parts of the district taking into consideration the following facts:(a)in case of agriculture land -(i)Classification of soil;(ii)availability of irrigation facility;(iii)proximity to road, market, bus station, railway station, factories, educational institutions, hospitals and Government offices; and(iv)location with reference to its situation in urban area, semi-urban area or country-side;(v)potentiality as distance from developed area;(b)In case of non-commercial building -(i)location of building;(ii)kind of constructions and value of building;(c)in case of commercial building:(i)location of building;(ii)nature of economic activity in the locality;(iii)nature of commercial building; and(iv)floor wise location of property.(2)The Collector of the district may, suo motu or on an application made to him in this behalf, on being satisfied about the incorrectness of the minimum value of land or per square metre rate of construction of non-commercial or single unit shops and commercial establishments and the minimum value of carpet area per square metre in case of shops and commercial establishments situated in buildings other than single unit commercial buildings fixed by him under sub-rule (1), for reasons to be recorded in writing, revise the same within a period of one year from the date of fixation of minimum value, as the case may be.Explanation. - (1) The revision in the rates of immovable property does not only mean to increase the rates but also to reduce the rates if fixed more than the rates prevailing in such locality.(2)The nature of commercial building means economic activities in it.(3)The direction issued by Government/Commercial of stamps shall have the same effect as if it were issued under these rules.(4)Single unit shop and commercial establishment shall denote such commercial building where land and total construction situated upon such land is being transferred by a single transaction.(5)Shops and commercial establishments situated in commercial buildings other than single unit commercial building shall denote such commercial property where a part of construction on a land is being transferred along with proportionate land and common area.(3)The Collector of the district shall after fixing the minimum value per hectare/per square metre of agriculture/non-agriculture land and the minimum rate of construction per square metre of non-commercial buildings and single unit shops and commercial establishments and per square metre rate of carpet area of shops and commercial establishments situated in buildings other than single unit commercial building under sub-rule (1) send a statement in three parts to the Registrar, the first part of such statement shall contain the division of district under his jurisdiction, into urban area, semi urban area and the country side, second part shall specify the minimum value of land situated in different parts of the sub-district and the third part shall contain, in the case of non-commercial building and single unit shops and commercial establishments situated in commercial buildings, the minimum value of construction and in case of shop and commercial establishment situated in the building other than single unit commercial building the minimum rate of carpet area per square metre.".
