WBS Rules 3C

Section 3C · Section 3C

Principles for determination of the market value of immovable property.

(1)

In determining the market value of a land in any locality, the quantum of land to be transferred shall be multiplied with the rate of per decimal of market value of land in that locality as determined in accordance with the provisions of rule 3B.

(2)

In determining the market value of a flat, the flat shall be considered to be completed even if the registering public claims that the flat is incomplete at the time of registration. The super built-up area in sq.ft. to be transferred shall be multiplied with the rate per sq.ft. of market value of a flat for residential, commercial or semi-commercial use as determined in accordance with the provisions of rule 3B.

(3)

In determining the market value of land with building or structure, the quantum of land to be transferred shall be multiplied with the rate of per decimal of market value of land in that locality as determined in accordance with the provisions of rule 3B and the total area of building or structure to be transferred shall be multiplied with the rate of per sq.ft. of market value of building or structure as determined in accordance with the provisions of rule 3B. The market value of land and the market value of the building or structure shall be determined separately hereinabove and both the value shall be taken together.

(4)

In determining the market value of a roof right in respect of any land with building or any flat for residential use, the principles shall be-

(a)

in case of land with building, the market value of the proportionate share of quantum of land on which such roof right is claimed plus such per centum of the cost of construction of the building as may be decided by the Registering Officer in consultation with the appropriate District Registrar;

(b)

in case of any flat for residential use, such per centum of the rate per sq.ft. of market value of the flat for residential use as may be decided by the Registering Officer in consultation with the appropriate District Registrar.

(5)

In determining the market value of an old building or structure in respect of any land with old building or structure in a particular area, the quantum of land to be transferred shall be multiplied with the rate of per decimal of market value of land in that locality as determined in accordance with the provisions of rule 3B and the market value of such old building or structure shall be depreciated at such rate considering the age of the old building or structure as may be determined by the Inspector General of Registration and Commissioner of Stamp Revenue, West Bengal, in consultation with the appropriate District Registrar and communicated to all the registering officers.

(6)

In determining the market value of an old flat for residential, commercial or semi-commercial use in a particular area, the market value of such flat in that area as may be determined in accordance with the provisions of rule 3B shall be depreciated at such rate considering the age of the old building or structure as may be determined by the Inspector General of Registration and Commissioner of Stamp Revenue, West Bengal, in consultation with the appropriate District Registrar and communicated to all the registering officers.

(7)

In determining the market value of larger plot in any area in West Bengal, the depreciation in the land value may be allowed considering the quantum of land at such rate as may be determined by the Inspector General of Registration and Commissioner of Stamp Revenue, West Bengal, in consultation with the appropriate District Registrar and communicated to all the registering officers.

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