New guidelines have been proposed to introduce a market-linked commercial land valuation framework aimed at bringing greater transparency and accuracy to property pricing. Under the proposed system, commercial land valuations would be directly tied to prevailing market trends, rather than relying solely on periodic government-set guidance rates. This approach seeks to create a more dynamic and responsive valuation method, ensuring that the assessed land values reflect real-time demand, transaction prices, and the economic potential of different commercial zones. It is expected that such a framework will reduce discrepancies between registered values and market prices, fostering a healthier and more trustworthy real estate environment.

The market-linked valuation framework would involve regular data collection, analysis of recent transaction records, and engagement with independent valuation experts to adjust property rates more scientifically. This model could also use technology-driven tools like digital registries and automated valuation models to maintain updated records and streamline the valuation process. By linking valuations more closely to actual market behavior, the framework aims to discourage under-reporting of property values, increase government revenue through more accurate stamp duty collection, and protect the interests of genuine buyers and investors.

Real estate stakeholders have largely welcomed the proposed shift, noting that a market-linked system could enhance investment confidence and stabilize commercial real estate markets over the long term. For developers and investors, more predictable and realistic valuation standards would improve financial planning and risk assessment. If implemented effectively, the new guidelines could mark a significant reform in commercial land valuation practices, aligning regulatory systems with the evolving needs of a dynamic and competitive real estate sector.