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HomeNewsReal EstateDevelopers to demand Gujarat CM to implement jantri rates hike by May

Developers to demand Gujarat CM to implement jantri rates hike by May

CREDAI Gujarat chairman Ajay Patel said, “We have decided to meet the chief minister and we will demand that relief should be given in purchasing FSI and NA premiums to ensure projects remain viable.”

Following immediate increase of 100% in jantri rates in the state, real estate developers held meetings on Sunday and CREDAI representatives will meet chief minister Bhupendra Patel on Monday morning.

On Sunday, developers said that jantri rate increase is necessary but it should be scientific and also, the state government should implement new jantri from May 1 which is Gujarat Day.

CREDAI Gujarat chairman Ajay Patel said, “We have decided to meet the chief minister and we will demand that relief should be given in purchasing FSI and NA premiums to ensure projects remain viable.”

On Sunday, CREDAI Gujarat’s 40 city chapters office-bearers held a meeting and then the core committee of CREDAI Ahmedabad also met. They also got suggestions from senior developers about the matter. A 15-member delegation of CREDAI will meet the chief minister on Monday and demand some time before the new jantri rates are implemented.

CREDAI Ahmedabad president Tejas Joshi said, “We believe jantri rates should be increased but we demand it should be scientific. Land prices have increased sharply in the last one decade but constructed property prices have not increased similarly. So, doubling the jantri for all the properties will make houses costlier.”

CREDAI Ahmedabad secretary Viral Shah said, “We demand to implement jantri hike scientifically with effect from May 1 (Gujarat Day) with proper data so it will impact ongoing deals less. If the jantri rates are not changed, the state government should decrease purchase FSI and land premiums to 20% of jantri value from current 40%. In 2011, a similar decision was taken to ensure real estate remains viable.”

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