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HomeNewsReal EstateUpto 100% hike of property rate in Indore's 49 localities

Upto 100% hike of property rate in Indore’s 49 localities

The district evaluation committee led by collector Asheesh Singh saw senior district registrar Amresh Naydu proposing a rise in the present guideline of property rate to be implemented from April 1, 2024.

The district evaluation committee has proposed upto 100% hike in the collector’s guideline of property rate at 49 localities of Indore and an average 17.7% rise in the guideline at 2062 places out of around 5000 for 2024-25 on Saturday. Also, it has invited claims and objections before central evaluation committee finalises the guideline.

The district evaluation committee led by collector Asheesh Singh saw senior district registrar Amresh Naydu proposing a rise in the present guideline of property rate to be implemented from April 1, 2024.

In the meeting, a rise upto 10% in the guideline was proposed at 412 locations, a rise from 10% to 20% at 513 locations, 20% to 25% at 1053 locations, while there are a total 84 locations, where a hike of above 25% was proposed.

“There are a total 49 locations in the district, where upto 100% rise in the present guideline has been proposed,” Naydu said, adding that there are total 4995 locations in the district and of them, a rise in the collector’s guideline has been proposed at 2062 locations.

“At these 2062 locations, an average 17.7% rise in the collector’s guideline has been proposed that makes it an average around 6% rise for all 4995 locations of the district,” he said.

The senior registrar added that there are 176 newly-developed colonies and other projects that have been added in the proposed guideline that will be implemented from next financial year.

“Claims and objections have been invited from people regarding the proposed guideline,” he said.

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