Constitution of Valuation Committee :

1. (1) The State Government may, by notification, constitute a Valuation Committee, under the chairmanship of Inspector General of Registration and Commissioner of Stamps, for estimation, publication and revision of market value guidelines of properties in any area in the State at such intervals and in such manner as may be prescribed, for the purpose of section 47A.
2. (2) The Valuation Committee is the final authority for the formulation of policy, methodology and administration of the market value guidelines in the State and may for the said purpose constitute market valuation sub-committees in each sub-district and district comprising of such members as may be prescribed, for estimation and revision of the market value guidelines in the State.
3. (3) Sub-committees so constituted shall function under the Valuation Committee and shall follow such procedures as may be prescribed and shall be subject to reconstitution whenever found necessary”.

(a)Clause (e) shall be omitted. (b)Clause (g) shall be omitted

2)Amendment of Article 23 :In Article 23 of the Schedule to the Principal Act, for clauses

(a), (b), (c) and (d). the following shall be substituted, namely- “23. CONVEYANCE (as defined by clause 10 of Section 2 of the Principal Act) not being a transferred charge or exempted under No. 62, or the market value of the property which is the subject matter of the conveyance. Secretary, Law & Judicial Department, Govt. of Mizoram. Published and Issued by Controller, Printing & Stationery Department, Government of Mizoram

Printed at the Mizoram Government Press, Aizawl. C/200

• • 3 -Ex-85/2016 Two percent of the market value.”