PANJIM: The Revenue Department has notified hike in fee for conversion of use of land from one purpose to another.
As per the notification, a hike of Rs 20 per square metre has been specified across all categories aincluding residential, special residential, commercial, special commercial, industrial, recreational zone, traffic and transport zone and public (Institutional and Government).
However, contrary to the earlier 3 classifications namely not exceeding 500 square metres, from 500 square metres to 2,000 square metres and above 2,000 square metres, now the notification has only two categories– area not exceeding 500 square metres and area exceeding 500 square metres.
According to the notification, for area exceeding 500 square metres the charges are double of the fee charged for land below 500 square metres.
The notification will come into force with effect from April 1, 2024.
