Jamshedpur, Jan. 29: The city?s residents will now have to pay less against the registry cost of residential plots with the state government deciding to slash the valuation of land in Jamshedpur and other parts of East Singhbhum district.

The new revised (reduced) rates, which have been in use from January 20, 2006, follows objections raised by the residents over the ?abnormal hike? in valuation of land in 2005, during the tenure of the then registrar-cum-East Singhbhum deputy commissioner, Sunil Kumar Burnwal.

Following the directives issued by the state registration department, the district administration has slashed the valuation of residential plots situated in Bistupur, Sakchi Main Road, Bazaar areas from Rs 1.90 crore to Rs 1.64 crore per acre.

The state government norm implies a five per cent stamp duty against the total value of land to be transferred (sold or purchased).

The revised valuation of land other than those falling under Bistupur, Sakchi Main Road, Bazaar Road has been adjudged at Rs 78 lakh per acre.

Earlier, the estimated rate, which was supposed to be effective from January 2005, was Rs 1.10 crore.

For areas falling under residential category in Sonari, Uliyan, Bhatia bustee, Kadma, Beldih, Jugsalai municipality area (ward number 1,2,3,4) the rate has been fixed at Rs 61 lakh per acre.

Valuation for the land situated in Mango, Pardih, Dimna, Baliguma (ward number 8,9 and 10) has been adjudged at Rs 51 lakh per acre.

Those who are interested in purchasing land in less developed areas such as Shushni Garia, Kalimati, Nildih, Jojobera, Golmuri, Baridih, Bara, Mudakati, Moharda, Bagunhatu (ward number 13,14,15,16,17,18 and 19) have to shell out five per cent of Rs 47 lakh per acre transferred in their name.

For those purchasing pucca residential houses, apartment or flats in areas under Sakchi, Bistupur, the valuation is Rs 1,100 per square feet of the constructed area.

This is a slight increase then what was proposed during last time, is Rs 900 per square feet.

The interested purchaser has to pay five per cent of the total valuation of constructed structure.

The valuation for pucca house, apartment, flats in areas falling under Sonari, Kadma, Dhatkidih Bazaar, Uliyan, Bhatia bustee has been adjudged at Rs 630 per square feet.