The Government of Maharashtra has made a decision to return back the agricultural land to the small farmers that it had confiscated from, for defaulting on loans.
In what is being seen as a major relief to almost 963 farmers who were already under a lot of debts, the state government has decided to give back a total of 4849 acre of agricultural lands. In order to gain their land back, the farmers will have to pay 25% of the cost of the land as per the Annual Statement of Rates (ASR), formerly ready reckoner rates.
Annual Statement of Rates (ASR)
The Annual Statement of Rates (ASR) is a yearly publication that determines the value of properties in a specific area in Maharashtra. It is prepared by the state’s Stamps and Registration Department. The ASR is used to assess the true market value of properties for the purpose of calculating stamp duty.
The ASR is also known as the Ready Reckoner Rate (RRR) or guidance value. It serves as a benchmark for calculating various property-related taxes, charges, and fees, including stamp duty and registration fees. The RRR is the minimum value that a buyer must pay for a property in an area.
The Decision
The decision was taken in the state cabinet meeting held on Thursday. But to put it into effect, the state government will have to make an amendment in the Maharashtra Land Revenue Code (MLRC) 1966 by bringing a bill, which also the cabinet approved.
“We have decided to return 4849-acre of the farmland that is in government custody. It will It be a big relief to the 963 small farmers,” declared Chandrasekhar Bawankule, state revenue minister, after the state cabinet meeting.
A release from the chief minister’s office (CMO) stated, “As per section 220 of MLRC, due to non-payment of tax or similar arrears, such lands are auctioned and deposited with the government as arrears. There is a provision in the law to return such lands to the original account holders if the due amount and interest on it are paid within 12 years. However, there was no provision to return such lands to the original owners after the completion of the 12 years.”
With the cabinet’s approval for the amendment to section 220 of MLRC, such lands can be returned to the original account holders or their heirs by recovering 25 percent cost of the land under the prevailing market rates, said a senior official from the state revenue department.
The bill to this effect is likely to be introduced in the upcoming budget session of the state legislature.
