Kolkata: The finance department of West Bengal government has rectified valuation of built-up space in few localities of the city. Locations which would be revised with their valuations are situated across the city and its periphery areas for the residential sector as well as for offices in Sector V of Salt Lake.CREDAI Bengal has been working with finance department to standardize prices of commercial spaces in the city which will most probably be done by the end of current fiscal year. The correction of prices in the city will encourage real estate investment in the city and will result as a welcome move for both buyers and sellers across the city.The main reason behind this correction of valuation is due to the notable difference observed in the market between the circle price of property and the price at which it was sold. The valuation of properties will further impact stamp duty and registration fees charged at the time of registrations.The declared circle rate in the state is much higher and for few regions it has went up to 25 per cent of transaction. Apart from this, provisions of section 43CA and 56(2)vii of the Income Tax Act have been introduced which has also served as added advantage for the real estate sector.Before the correction of prices, the real estate industry was suffering due to high stamp duty values which affected the transactions due to central law. Many buyers were turning down the investment options in sector V as they had to pay more revenue but the standardization of values will sort out the issue further boosting the real estate in Salt Lake Area.займ на карту без отказов круглосуточновзять кредит онлайн