Bhubaneswar, Jan 23: In a significant move, the state cabinet on Monday approved the proposal to reduce the fee for conversion of leasehold land of Odisha State Housing Board (OSHB) or any development authority to freehold from the existing 10 percent to three percent.
As per new rules, the conversion fee will be reduced from the existing 10 % of the prevailing market value of the land to 3% of the valuation of land fixed under the guidelines prescribed under the Odisha Stamp Rules, 1952 for a Gharabari kisam of land situated in the vicinity.
This decision was taken in the state cabinet meeting which was presided over by Chief Minister Naveen Patnaik.
