Feb 05, 2023, 02:00 pm
The Gujarat government has doubled the "jantri" rates for immovable properties after a gap of 12 years. Jantri rates are the benchmark rates for the determination of stamp duty and registration fees for immovable properties in the state.
The new jantri rates, which came into effect on February 1st, 2023, will apply to all kinds of properties including land, buildings, and apartments. The state government has stated that the revision of jantri rates is aimed at bringing the rates in line with current market prices and to ensure fairness in the determination of stamp duty and registration fees.
The move has been welcomed by the real estate industry, with some experts stating that the revised jantri rates will boost the demand for properties in the state. They also said that it will increase the transparency in the property market and bring more clarity in pricing.
However, the new jantri rates have caused some concern among property buyers, who fear that the increased rates could lead to an increase in the cost of buying and owning a property. The state government has assured the public that the revision of jantri rates will not lead to an increase in property prices and that it is only aimed at making the stamp duty and registration fees calculation process more transparent and fair.
In conclusion, the revision of jantri rates by the Gujarat government is a much-needed step towards making the property market more transparent and fair. The move is expected to boost the demand for properties in the state and bring more clarity in pricing.