Ahmedabad, Feb 6 (PTI) Real estate developers on Monday met with Gujarat Chief Minister Bhupendra Patel seeking to postpone the implementation of the new ‘jantri’ or annual statement of rates (ASR) for immovable properties in the state which were doubled after a gap of 12 years.
The new rates will put an extra burden on the common man as the cost of new properties will go up and people will have to pay higher stamp duty as well as tax on the purchase of a house, the developers claimed.
After meeting the chief minister in Gandhinagar, the developers claimed he has assured an amicable solution keeping in mind everyone’s interest.
“Our meeting with the chief minister and senior officials was held in a very positive atmosphere. We urged the CM to delay the implementation for some months. We demanded that the notification about the new jantri rates should come into effect from May 1, so that everyone gets some time,” said Tejas Joshi, President of CREDAI Ahmedabad-GIHED, the city chapter of Confederation of Real Estate Developers’ Association of India, who was part of the delegation of builders.
In a revision coming after 12 years, the state government on Sunday evening doubled the ‘jantri’ rates, a minimum property rate prescribed by the state, through a notification which said the new rates are coming into effect from Monday (February 6).
Due to this sudden and double hike, the jantri rates of land in some areas went above the market price, Joshi told reporters.
“We told the CM that the new rates will put a break on affordable housing because stamp duty, tax, and EMIs will eventually increase, forcing people to stay away from purchasing houses. The CM gave us assurance that he will discuss these issues with the concerned officials and take an appropriate decision very soon,” Joshi said.
A prominent builder from Rajkot, who was also part of the delegation, said developers are confident that the CM will accept their demand to defer the implementation of the rate hike.
“The CM assured us that an amicable solution will be brought and we are confident that the issue will be resolved,” he said.
Notably, the ASR is taken into account for calculating the stamp duty and registration fees on any property.
In the case of land acquisition for various projects, the ASR is considered the basis for giving compensation to land owners.
Superintendent of Stamps Jenu Devan on Sunday said to give a continued impetus to the state’s development and to give due market value to citizens’ properties, the jantri rates existing since April 18, 2011, are being doubled from February 5, 2023.
If the such rate was Rs 100 per square metre (in an area), then it will be Rs 200 per square metre now, the official had said. PTI PJT NSK NSK
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