CV=BR x UC x NTB x AF x FF x BA” ”.

Amendment of Capital Value Rules, 2015 and re-enactment of rule 21 thereof, with retrospective effect

1. (1) Notwithstanding anything contained in any judgement, decree or order of any court, the Factors and Categories of Users of Buildings and Lands (Assignment of Weightages by Multiplication) Fixation of Capital Value Rules, 2015 (hereinafter referred to as “the Capital Value Rules, 2015”), shall be amended and shall be deemed to have been amended with effect from the 1st April 2015, as follows, namely :—
   • (a) In rule 2 of the Capital Value Rules, 2015,—
     • (i) after clause (a), the following clause shall be inserted, namely :— “(a-1) “Annual Statement of Rates” means the Annual Statement of Rates for the time being in force published under the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995 framed under the provisions of the Maharashtra Stamp Act;”;
     • (ii) clause
   • (h) shall be deleted;
     • (iii) in clause (i), for the words “the Ready Reckoner”, the words “the Annual Statement of Rates” shall be substituted.
   • (b) In rule 13 of the Capital Value Rules, 2015, for the words “the Ready Reckoner”, the words “the Annual Statement of Rates” shall be substituted.
   • (c) Rules 20 and 22 of the Capital Value Rules, 2015 shall be deleted.
2. (2) Notwithstanding anything contained in any judgement, decree or order of any court, rule 21 of the Capital Value Rules, 2015 shall be deemed to have been duly and validly re-enacted, with certain modifications, and shall be deemed never to have been ceased to have effect, and shall continue to be in force from the 1st April 2015, as follows, namely :— “For rule 21 of the Capital Value Rules, 2015, the following rule shall be substituted, namely :— “21. Capital value of open land or building or part thereof.— The Capital value of open land or building or part thereof shall be fixed under the provisions of sub-sections (1A) and (1B) of section 154 of the Act and these rules, in the following manner, namely :—
3. (1) Capital value
   • (CV) of open land.— Average rate of open land as per Annual Statement of Rates (Base Rate -BR) X weightage by multiplication as per User Category
   • (UC) (Part I of Schedule ‘A’) X Area of Land (AL). CV = BR x UC x AL
4. (2) Capital value
   • (CV) of building.— Average rate of building as per the Annual Statement of Rates (Base Rate -BR) X weightage by multiplication as per User Category
   • (UC) (Parts II, III, or as the case may be, IV of Schedule ‘A’) X weightage by multiplication as per the Nature and Type of Building
   • (NTB) (Schedule ‘B’) X weightage by multiplication on account of Age of Building
   • (AF) (Schedule ‘C’) X weightage by multiplication on account of Floor Factor
   • (FF) (Schedule ‘D’) X Carpet Area (CA).