As the deadline to get sale deeds registered as per the old jantri rates looms, the office of the Superintendent of Stamps & Inspector General of Registration is seeing an average of 6,000 transactions every day.
New jantri rates were implemented across the state on April 15. However, those purchasing the stamps on or before April 15 were granted four months’ time to get the sale deeds registered, and this period ends on August 15.
Jenu Devan, superintendent of stamps and inspector general of registration said some 6,000 transactions are taking place daily and token issuances have been increased.
“The deadline to get sale deeds registered is approaching and we have increased slots so that people can get their pending registration completed. We would see around 4,500 transactions a day before the new jantri rates were announced. Currently this number has increased to an average of 6,000.”
Devan added that a significant number of registrations at new jantri rates are being made, too.
Tejas Joshi, president, CREDAI Ahmedabad said, “The state government’s decision to give those who had paid the stamp duty by April 15 a 120-day period to get the property sale deeds registered has been a big relief for many. Most of such properties have been registered and there won’t be a rush in the last few days before the deadline.”
However, some expected the rush to continue till the day of the deadline. A developer said that there are cases wherein registration is pending due to various reasons which could lead to a rush of such buyers in the last few days.
According to data, Rs 14,318 crore was collected as stamp duty and registration fee in 2022-23, 34% higher than Rs 10,616 crore in 2021-22. After the state government announced a 100% increase in the jantri rate, the January-March quarter saw a huge rush from investors to get their properties registered as per old jantri rate.