PRESS INVITE The Editor
Dear Madam / Sir, Seminars / Programmes as per details below: The Watchdog Foundation, SOUL Team and Civic and Political Cell of St. Vincent de Paul Church, Khar have organised the three seminars as follows: 1.Sunday, 03 February at 10.30 a.m. at St. John the Evangelist Church School Hall , Marol, Andheri East at 10.30 a.m. 2. Sunday, 03 February at 6.00 p.m. at St. Vincent de Paul Church Quadrangle , Khar West. Keynote Speaker: Adv. Godfrey Pimenta Brief Synopsis: Such seminars will address the core issues of the basis of valuation being done. Just to apprise you that the Base Value being adopted by the Asst. Assessor & Collector from the Ready Recknor itself is faulty. There are catena of judgments including that of Supreme Court which have held that the property rate given in the Ready Recknor, which Govt. of Maharashtra publishes every January is only for the purposes of determining the stamp duty and does not reflect the true market value of the property in given case. The Ready Reckoner does not take into consideration various parameters of valuation such as physical, legal, social and economic factors to arrive at the fair market value of the property. It does not take into consideration various planning and design aspects, quality and materials used in construction, building regulations, conditions of money markets, estimated future life of the building, effect of outgoings to be paid for the property, title of the owner, unexpired period of lease, encumbrances in the property, surroundings of the property such as proximity to zopadpatti/slums, frontage, allowance for joint ownership, effect of various Acts such as Urban Land Ceiling Act/CRZ etc. It is a cardinal principle of valuation of property that likes should be compared with likes and to arrive at the correct value, the due allowance should be given for factors, which enhance or depress the value. We are attaching herewith the Ready Recknor rates for Marol Village for better understanding. Rate of Land + Building in Rs. per Sq. Mt. Ready Recknor Year Rate of Dev. Land F.S.I Residential Office Shop/ Commercial Industrial % increase in Ready Recknor rate Remarks 2007 22200 32700 48400 94900 37400 2008 21300 42500 51000 72000 42500 2009 21300 42500 51000 72000 42500 Govt. did not revise RR rates in 2008-09 because of economic slowdown 2010 23400 46800 56100 79200 46800 2011 30400 60800 72900 103000 60800 2012 38400 76000 91100 128800 76000 2013 You will notice that the Ready Recknor rate for the year 2010 for residential property is Rs. 48400/- per sq. mtrs. which goes up to Rs.76000/- per sq. mtrs. for the year 2012 and for the current year it could be around Rs.95,000/- per sq. mtrs. This seminar will address, the various legal aspects, the methodology, the basis of valuation etc. P.S. If any groups/ organisations want to host this programme do let us know. Email us your request. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 3. Seminar / Action plan on Thursday, January 31 at 6.30 p.m. at Karimi Library, Anjuman Islam Campus opp CST[VT ] Station: Strategy meeting of Minority Groups and all other Anti- Communal Groups to discuss strategy to continue a Public Campaign for the tabling of the Prevention of Communal and Targeted Violence [Access to Justice and Reparations ] Bill, 2011 Violence Bill and why we must push for its implementation. Ms Teesta Setalvad, Adv. Yusuf Muchhala and several other luminaries/ organisations will be part of this deliberations. Please make it a point to attend and circulate and motivate our friends to attend these seminars. WE NEED TO UNDERSTAND , TAKE A STAND AND CHOOSE TO ACT AND PROTEST. Regards, Dolphy D'souza SOUL TEAM Cell: 9820226227 Email: dolphydolph...@gmail.com