What do you mean by Fair value of Land for the registration of Land in Kerala ?
This fixed land price notified by the government for a particular area or land is known as the “Fair Value of the Land.”
Value of land usually depends upon various factors. In order to avoid stamp duty (tax) during land sales, people used to do the registration of land by showing a much less amount than the original sale price in the Sale Deed. In which case, registrations were done without mentioning the actual sale consideration (sale price) in the Sale Deed. In doing so, the actual stamp duty to be paid on a land sale was considerably decreased putting the government to face the loss. In order to put an end to the practice of showing ‘lower price’ for land during registration, the government had fixed fair prices for lands in the state. By doing so, the registration of a particular land cannot be done by mentioning an amount that is less than the fixed fair price notified by the government in that particular area.