Bhubaneswar, Dec 22: The Odisha government has issued a fresh Standard Operating Procedure (SOP) for the biennial revision of the Benchmark Value (BMV) of immovable property across the state, which will come into effect from April 1. The move aims to bring greater transparency and uniformity in property valuation and land registration processes.

As per the SOP, a District Valuation Committee (DVC) will be constituted in each district under the chairmanship of the District Collector, while a Sub-District Valuation Committee (SDVC), headed by the Deputy Collector, will function at the sub-district level. Both committees will include expert valuers responsible for assessing prevailing land prices and market trends.

In urban areas, plot values under Form-5 will be classified into roadside, residential, and commercial categories. For rural regions, land valuation under Form-6 will depend on whether the land is agricultural or non-agricultural, along with its proximity to national highways. Valuation of houses and buildings will be based on RCC and other construction rates fixed by engineers.

The BMV will be calculated by taking the average of the top 50 percent of registered sale transactions over the previous two years. Proposals prepared by the SDVC will be examined by the DVC and finalized after approval from the Board of Revenue. The revised BMVs will be published district-wise and updated every two years, streamlining land transactions in Odisha.

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