In a bid to streamline the registration process for properties valued at over Rs 50,00,000, the state government of Jaipur has initiated the empanelment of private site inspectors. The move comes as a solution to the long-standing issue of delays caused by a shortage of government site inspectors during property transactions.
As per the new directive, any property exceeding the value of Rs 50,00,000 requires a mandatory site inspection. To tackle the scarcity of inspectors, a notification was issued on May 3, 2005, allowing private individuals to conduct such inspections.
Syed Sheeraz Ali Zaidi, the Deputy Inspector General (Jaipur-Circle II) of the Registration and Stamps Department, explained that the process of empanelment is underway and is expected to significantly reduce the registration time for both buyers and sellers.
The threshold value of Rs 50,00,000 takes into account either the selling price or the government valuation, whichever is higher. Additionally, if the government’s valuation of a property is Rs 45,00,000 and the selling price exceeds Rs 50,00,000, a site inspection becomes mandatory. Similarly, if the selling price stands at Rs 45,00,000 and the government valuation surpasses Rs 50,00,000, a site inspection is required.
To qualify as an empanelled inspector, applicants must be a valuer for a bank or financial institution. Secondly, they must be a registered valuer under the Companies (Registered Valuers and Valuation) Rules, 2017. Lastly, they must have a diploma or degree in civil engineering, town planning, or architecture.