Sunday, April 3, 2011

State Govt files Caveat over New Jantri Rates

Ahmedabad: The Gujarat government is geared up to back its new jantri rates – or government assessment of the value of real estate properties which have come into effect from April 1.
There rates have been increased from 2.5 to eight times across the state.
Anticipating the new rates to be challenged in court, the state government has filed a caveat before the Gujarat high court saying it to hearthegovernmentbeforepassing any order.
An official with the state revenue department said a copy of the caveat was sent to the Confederation of Real Estate Developers’ Association of India (CREDAI), Gujarat chapter.
President of Credai, Gujarat, Jaxay Shah confirmed the development. “We have called an emergency meeting of Gujarat Institute of Housing and Estate Developers (GIHED) on Wednesday to analyse the new jantri rates. The meeting will be attended by office-bearers of 22 associations from across Gujarat,” said Shah.
Vijay Shah, former president of Gihed, said that around 70 per cent of new jantri rates are rational, but there are some anomalies which should be corrected.
According to him, construction rates per sq m has been quoted as Rs 9,900, but while fixing this rate government has not kept affordable housing in mind.
The state government has not consideredsomeof thefeatureslike properties near monuments, railway track, flyover, conversion from old tenure to new tenure (navi sharat) to name a few, said Shah.

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