Jantri Rates Gujarat Pdf 11
Yolanda Cuadros
The Gujarat government doubled the jantri, or the annual statement of rates (ASR), for immovable properties in the state from Sunday to give due market value to properties of citizens, in a revision coming after a gap of 12 years.
The calculation of the stamp duty and registration fees is possible with the help of ASR. In case of land acquisition for various projects, the ASR are considered as the basis for giving compensation to land owners.
Superintendent of Stamps Jenu Devan in a statement said there has been a sharp rise in the prices of immovable properties owing to changing circumstances in the state due to rapid industrialisation, urban and rural development and economic activities.
The ASR is an essential guideline for the assessment of stamp duty, which is charged on the agreement of sale of a property. It also enables to indicate the property prices for every location or a specified area within an administrative boundary.
Besides introducing a steep hike in the jantri rates for land, the state government has almost doubled its rates for estimated construction cost of different properties, in comparison to the jantri ASR of 2006. The only relief given in the new jantri which came into effect from April 1, 2011, is in depreciation.
In the new jantri, the state government has increased the rates for construction of RCC frame structures in urban areas to Rs9900 per square meter, from Rs5,000 of the jantri ASR of 2006. Similarly, the rates have been increased from Rs4,500 to Rs9100 in rural areas.
The new rates for construction of industrial sheds have more than doubled. Earlier, the const of construction of an industrial shed was fixed at Rs4500 per square meter. This has now been increased to Rs11,500 per square meter in urban areas and Rs11,200 per square meter in rural areas. At the same time, the rates for industrial sheds with metal sheets have been increased to Rs8,500 per square meter in urban and Rs8,200 per square meter in rural areas, from Rs3,000 per square meter in the old jantri. The higher construction cost will make property costlier, said Vijay Shah, a city-based realtor.
The state government has provided some relief in terms of depreciation. Earlier, the state government allowed for 1% depreciation on construction rates of building between 6 and 50 years old, while 50% depreciation was provided for buildings older than 50 years. But now the government has provided for 1.2% depreciation on construction cost of buildings upto 50 years old, while those older than 50 years will get 60% depreciation on construction cost.
Now, flats/apartments located on the second floor will be valued at 95% while those on the third floor and above will be valued at 90% of the ASR if the building does not have elevator facility. If there is an elevator, the flat located on the top floor will be valued at 95% of ASR. Such benefits were not available in old jantri. There is also relaxation for parking area.
The Gujarat Government deferred by nearly two months the implementation of its decision to double the jantri or the annual statement of rates (ASR) for immovable properties in the state in the wider interest of the real estate sector and public. Developers had opposed the sharp hike in ASR.
ASR is an essential guideline for the assessment of stamp duty which is charged on the agreement of the sale of a property. It provides an indication of the property prices for every location or a specified area within an administrative boundary.
The government said the decision was being taken in the wider interest of the real estate sector of the state and the general public. It had doubled the jantri rates from February 5 across Gujarat in a revision coming after a gap of 12 years.
Earlier, real estate developers had protested the steep rise in the rates through what they called a sudden announcement and demanded from the government to postpone the implementation of the hike till May. They had also demanded a partial rollback of the hike.
"In order to give continued impetus to the state's development and to give due market value to citizens' properties, the jantri rates existing since April 18, 2011 are being doubled from February 5, 2023," he said.
What are the factors affecting the Jantri price?
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.
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.
Jantri rate affects the affordable housing segment
According to many developers, the inflation in jantri prices is directly affecting the affordable housing segment. There are possibilities of the market collapsing due to the insufficiency of affordable homes being AFFORDABLE. Hence dreams of many commoners may go at the toss. Commoners are going to be affected the most by the rule as their income tax liabilities will double and their purchasing power may be restrained.
Two sides to the coin
There is this side where developers are not at all satisfied with the inflated price, while the other side is the realtors, according to whom it is a welcome step. The only loophole with the decision is that it is applicable across Gujarat. High Jantri prices in certain parts of Gujarat are appreciated and understood, while in other parts where the cities have affordable homes, they are going to suffer.
The stamp duty and registration charges Gujarat are calculated based on the jantri rate value of the property in Gujarat. The Gujarat state government is responsible for revising the jantri rate periodically and these rates are different for each area in the state.
An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.
In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
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After opening , one needs to select Property Search menu bar. Later District, Sub-Registrar Office, Index 2 Village, Property/Land Type and Search Type need to be selected. After that TP No./Survey No./Value Zone, Applicant Name and Mobile Number need to be entered.
Select Registration Type out of eFiling or eRegistration or Regular (Regular Type means documents which are registered by the parties by visiting the registration office personally and filling their documents in hard form), Enter the details as per your document, check the following image. (required details are a.
Appointments can be made through the home page of the gARVI portal by selecting the option Registration appointment scheduler for citizen . Applicants are required to provide some details regarding the property through the application form to book their appointment slot.
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