The implementation of new jantri rates was decided yesterday by the Gujarat government and from today, the new jantri rates come into effect in Gujarat. Due to speedy growth and varying scenario in Gujarat, 5% annual rise in the rates of jantri is also decided by the Gujarat government.
The cost of registering documents regarding land will be also increased due to raised jantri rates. In urban and semi-urban areas such as Sanand, the jantri rates are increased by at least 300 to 400% and the rates is different for every sq. km. Each sq. km. has been further sub-divided into value zones in urban areas such as Ahmedabad and Surat and the rates of jantri are different in each value zone.
The jantri rates of the property at the side of road will be higher than the property which is anywhere inside. The amount of black money will be reduced to certain extent due to rise. From 2008 the new kilometre based formula was required to be implemented two times (January 2009 and August 2009) after appraisals by government officials. The new jantri rates that reveal most recent market rates of real estate properties were based on scientific methods done in early March.
On April 1, 2008 jantri rates were put into practice last time which were based on an appraisal done by the state government in 2006. Scientific appraisal of real estate properties were not done in last time jantri rates. From January 31 to February 10, 2011 government had conducted survey in rural and urban areas to decide the rates of the property. The stamp duty collection of the state will be also increased due to new jantri rates. Rs 3,500 crore worth of stamp duty was collected in 2010-2011 while in 2011-2012 it is expected that the collection will rise by Rs 1,500 crore.