PANAJI: In response to revenue losses from the sale of plots by comunidades and the Goa Housing Board (GHB), the state government has mandated that comunidades execute conveyance deeds at 50% below the minimum land rates and collect stamp duty based on GHB-determined rates.
According to under secretary (revenue-I) Vrushika Kauthankar, “For comunidade land, the minimum land values for areas up to 400sqm in S1 to S4 zones will see a 50% reduction.”
Revenue Minister Atanasio ‘Babush’ Monserrate stated that comunidades collect ‘foro’ for plots allotted to beneficiaries over 20 years, generating no revenue for the government. “Now, with the new notification, comunidades must execute the conveyance deed and pay the government 50% less than the minimum land rates, which they previously never paid,” Monserrate explained.
He shared that comunidades previously determined land rates for auctions, resulting in no revenue for the government from plot allotments. The government has also decided to collect stamp duty based on the rate established at the time of plot allotment by GHB.
Kauthankar clarified, “The indicated minimum land values will not apply at the time of executing the conveyance deed for plots allotted by GHB. Instead, the rate set by GHB during the plot’s allotment will be used to calculate stamp duty for registration.”
Monserrate remarked that even GHB sets its sale plot rates before executing sale deeds. “Now, the government has established the stamp duty rate for GHB plot allotments,” he concluded.
