‘Roll back jantri rate hike’: Realtors submit memorandum to Collector

“We are not against the jantri hike. As the hike was sudden and unscientific, we have asked the government to postpone the implementation of the hike to May 1,” Ajay Patel, chairman of CREDAI Gujarat, told The Indian Express after submitting the memorandum.

On February 4, the Gujarat government announced a 100 per cent increase in jantri or Annual Statement of Rates) which was made effective on an immediate basis.

This hike came after a gap of 12 years and it meant that higher stamp and registration charges had to be paid to the state government for any real-estate property purchased from primary or secondary markets.

Apart from postponing the hike, the developers also demanded that the jantri prices should not be hiked more than 50 per cent for open land, while it should only be 20 per cent for built-up property. The developers also sought a reduction in non-agricultural premium to 20 per cent from the existing 40 per cent.

The developers claimed that the jantri prices — after the hike — was more than the market price at many places in the state and so a scientific third party study should be undertaken before any future increase in the jantri prices, which are the base rates, below which sale registrations of properties cannot be done.

“We held a meeting on Thursday, where we decided to hand over a memorandum to the district collector. We do not want to go for any fight. We just want to tell the government that we are right,” said Ajay Patel.