The Gujarat government has raised the jantri rates by up to 1,000% compared to the 2008-09 rates. This means the citizens will have to cough up more by way of stamp duty.
The Gujarat government has raised the jantri rates by up to 1,000% compared to the 2008-09 rates. This means the citizens will have to cough up more by way of stamp duty.
The government introduced new scientifically prepared jantri rates from April on Friday. The rates have been increased by up to 1000% in many areas of the city and outskirts.
Thaltej, Bopal, Vejalpur, Vastrapur and a few other areas have witnessed steep rise in the range of 500% to 1000% in jantri rates.
In Bopal, old jantri rate for residential properties were Rs3,000 per square metre, which has now gone up to Rs17,000 to Rs25,000 per square meter-a rise in the range of more than 550% to 850%.
The rate for open plot has been fixed at Rs30,000 per square meter which is parallel to market rates on prime locations.
Similar is the case of Thaltej where the open land rates have been increased to Rs35,000 to Rs1,00,000 per square metre in the new jantri.
They were Rs5500 to Rs9,000 per square metre as per the old jantri of 2008-09. In case of residential properties, the rates have increased between Rs21,000 and Rs50,000 as compared to Rs5500 and Rs7,000 previously.
The rise in jantri rates will lead to higher payment of stamp duty making property costlier in turn. Developers believe that sudden introduction of the new jantri rates point towards dictatorial attitude of the state government as it did not invite any suggestion or objection from various stake-holders.
"The government has snatched away democratic right of submission of objections," said Suresh Patel, president of Gujarat Institute of Housing and Estate Developers.
The jantri rates have been fixed in non-scientific manner as rates of Ambawadi that falls in R-1 zone, have been fixed between Rs35,000 and Rs40,000 per square metre, while in R-2 zone of Bodakdev it is between Rs55,000 and Rs80,000 per square metre, said Patel.
"Does it mean that Ambawadi has become cheaper and Bodakdev costlier?" Patel asked.
Developers say that rates should not have been decided randomly and on the basis of only one high-value transaction in the area.
"The market rate of any plot is decided taking into consideration factors such as development zone, location, shape, road width and legal status of the plot," said Rajesh Vaswani, executive director of Venus Group of Companies.
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