Darbhanga: Buying land may become more expensive for common citizens after March, as the Registration Department has initiated preparations to revise the Minimum Value Register (MVR), a move that is expected to increase stamp duty and registration charges.
Officials said that once the MVR is revised upward, the registration fee payable on property transactions will automatically rise, directly impacting buyers. However, the revision is also expected to boost government revenue.
According to official sources, Assistant Inspector General of Registration, Darbhanga, Manindra Nath Jha, has issued a directive to the Biroul Sub-Registration Office and other concerned offices to expedite preparations for the MVR revision. The instruction mandates completion of groundwork at the earliest.
Biroul Registration Office officer Harishankar Suman confirmed receipt of the order and said compliance would be ensured as per departmental guidelines. The directive noted that the last MVR revision in rural areas was conducted in 2013, while urban and peripheral areas were revised in 2016.
Since then, property market rates have risen significantly, creating a wide gap between the officially recorded valuation register and prevailing market prices. To address this disparity, a new framework proposes annual revision of the MVR to better reflect actual market conditions.
As per the latest instructions, a mouza-wise list will be prepared based on documents registered between November 15, 2024, and November 15, 2025. From these, five highest-value and five lowest-value transactions across different categories will be identified for analysis.
Survey teams will be constituted to collect updated market rate data. Coordination will be established with Circle Officers, Executive Officers of Nagar Panchayats and other local authorities to ensure accurate assessment.
The proposal for revised MVR rates will be prepared in accordance with the Land Classification Guidelines issued by the department on December 18, 2017. After detailed analysis of the collected data, a revised MVR proposal aimed at enhancing revenue will be submitted to the department for approval.
If implemented, the revision is likely to affect property buyers across Darbhanga district and potentially other regions where similar exercises are underway.
