Story So Far:
Developers and builders have expressed dissatisfaction with the state government’s decision to double jantri rates. Following this increase, a meeting of the builders’ association was held to discuss the Jantri rates dispute. At this meeting, it was decided to send a proposal to the government asking it to reconsider the decision.Today, representatives will meet with the Superintendent of Stamps in Gandhinagar to discuss the implementation of the new Jantri.
What Is A Jantri?
Jantri rate, also known as circle rates in North India, is the minimum property rate prescribed by the Gujarat government. This rate is used for the calculation of stamp duty, and registry fee levied on property transactions.
Also Read: Several Property Deals Put On Hold Following Jantri Rate Hike
How Is Jantri Calculated In Gujarat?
The minimum price of land or building in an area is defined as the jantri rate, Gujarat. Jantri rate is calculated based on the following factors: Type of the property: Property type like residential, commercial or industrial effects the jantri rate Gujarat.
Also Read: Builder Organisations Protest Jantri Revision
How Can I Find The Market Value Of My Property In Gujarat?
- Step 1: Visit the gARVI website at https://garvi.gujarat.gov.in/
- Step 2: Click on “Jantri” to access the rates portal.
- Step 3: Click on “MarketValue” on the following page.
- Step 4: Fill up the details of your property as prompted – these include the location of your property, its use, the land and built-up area, among other things.
- Step 5: Click on “Calculate MarketValue” on the bottom-right corner of the page.
- Results are displayed
Also Read:Revised Jantri Rates To Increase Revenue Income In Gujarat Budget Outlay
Why Has Jantri Been In Recent News?
After 12 years, Gujarat government has increased jantri rates in Ahmedabad. The government has hiked prices by 50% for immovable property. Earlier, if jantri rates were Rs 100 per sq ft now it will be Rs 200 sq ft
Also Read: Tax Experts: Indexation To Deal With Hiked Capital Gains Tax Post Jantri
Who Stands To Gain?
The government and the municipalities across Gujarat. It is held that the increased in revenue earnings will help the state bolster its infra and development projects.
Also Read: CREDAI Meets CM Patel, Demands Revised Jantri Onwards May 1
Who Stands To Lose?
If implemented immediately, all traders, businessmen and realty firms. Any new buyer or seller of property because it would mean less by way of what is going into their account and more by way of taxes.
Also Read: Hike In Jantri Rate To Inflate Project Costs By 20% In Gujarat
Going Forward:
The Builders’ Association has sought a rethinking about jantri hikes in a scientific manner and also time till May 1 to fully implement the same.
Also Read: Gujarat University: Info On PM Modi’s Degree Is “Irresponsible Childish Curiosity”
