The Stamp Duty Act was reviewed and amended to introduce valuation for stamp duty by private valuers. This amendment seeks to enhance efficiency and enhance the business environment in the land transaction processes.
Previously, valuation to determine the value of land was done by the Chief Government Valuer which oftentimes was curbed by unnecessary delays; however, this new regulation will reduce the turnaround time for the return of valuation figures saving time for the sellers and the buyers seeking to own a piece of property.
Read the notice on their official Facebook post at this link
Access the list of approved private valuers by the Ministry of Lands and Planning at this link.