Gujarat Government doubles 'jantri' rates for immovable properties after 12 years - The Economic Times.Recently, the Gujarat government issued a notification stating the hike in the annual statement of rates (ASR) after 12 years. It is implied on all immovable properties from 5th February 2023 to give the due market value to properties. This decision has been taken after reviewing the sale deeds of the past 3 years. For detailed information on what Jantri rates are and what factors affect the Jantri rate, keep reading.
Jantri price is revised by the revenue department after undergoing multiple factors. Jantri price is the minimum property rate beyond which one cannot register a property under government records. The price has a direct relationship with the stamp duty and registration charges that have to be paid at the time of buying a property. The factors that affect the Jantri rate are the structure type of the property, infra around the property and nearby locality. Let's have a detailed look.
There are multiple factors that affect the rates, but here we will have a look at the factors that are considered by the government while deciding the Jantri price.
1. Market Value - The market value of the property is very necessary, and it has a
direct
relationship with the asking price.
2. Property Surroundings - If the surroundings have high-class
amenities like good commutation, shopping complexes, hospitals, schools, parks and more then
there are higher possibilities that the jantri price would be more. Posh areas always
attract
high jantri prices.
3. Usage of the property - The jantri price also depends on the usage of the
property, for example, if it is used for residential or commercial purposes.
The decision to
increase Jantri price was taken for rapid industrialisation, economic development, and
urban-rural upgradation. If the Jantri rate was Rs 100 per square metre, then it will be Rs
200
per square metre on today’s date.