The recent draft jantri rates in Gujarat have sent shockwaves through the real estate industry, with hikes as steep as 900%. Developers in Ahmedabad are voicing their concerns over the potential impact on the housing market and the construction sector.
Real EstateAhmedabadGujaratJantri RatesDevelopersReal EstateNov 29, 2024
Jantri rates are the officially determined rates for government land in Gujarat. They are used to calculate the sale price of government land and to determine compensation for land acquisition.
The Gujarat government has revised the jantri rates to reflect the current market value of land, ensuring that the state receives a fair share of the value of the land it sells.
The increase in jantri rates will significantly raise the cost of land, making it more expensive for developers to acquire and develop properties. This could lead to higher property prices and a potential decline in demand.
The ABA has strongly opposed the new jantri rates, stating that they are inflated and disconnected from the current market conditions. They are urging the government to reconsider the rates.
The government defends the new rates, saying they are based on a comprehensive analysis of the current market conditions and are designed to ensure fair pricing for government land.
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