Fair value fixation for flats likely: TM Jacob

THIRUVANANTHAPURAM: The State Government is actively considering introduction of  fair value fixation for flats, Registration Minister T M Jacob said here on Thursday.Launching the online transaction facility of the Registration Department, Jacob said that in the absence of fair value for flats, the state exchequer was losing crores of rupees.With a system similar to the fixation of value for land, the loophole can be plugged, he said.  A  meeting of district registrars and senior officials of Department would be convened here on September 7 to chalk out a scheme for bringing flats also under the net of fair valuation. At present, fair value is recorded for only flats which are being purchased with bank or government assistance.