Sunday, May 11, 2008

ASR 2006 (New Jantry) for Gujarat


Stamp Duty Annual Statement of Rates (ASR 2006)
What is ASR (Jantry) ?
Jantry OR ASR is a statement of guideline rates (i.e. market rates as per state government) for imovable properties (i.e. land & building), published by state government for the purpose of calculation of Registration Fees & Stamp Duty to be paid or Stamp to be used/affixed at the time of execution and/or registration of a deed or a document executed between parties and intended for sale and/or transfer of one or more such properties.
ASR comprises of statement of rates along with guidelines for its implimentation & Input Form.
Histry of Jantry
With the introduction of the provision under section 32(A) of the Bombay Stamp Act, 1958 , which provides that Stamp Duty shall be recovered at the time of registration of the document of transfer and/or sale of properties on the basis of market value, and to that effect the first ASR (Jantry) was prepared by Government of Gujarat in the year 1984 which came into force by 1992 with required modifications. The last ASR (Jantri) was prepared during the year 1999. In February 2007 the State Government took a decision to increase the said jantry by 50% flat and to be increased further by 5% every year. In the year 2006 , Suprintendent of Stamps and Valuation Department, Gujarat State prepared a new jantry which was made effective from 01-04-2008.
New ASR 2006
The draft jantry was introduced by the state goverment in February 2008 and put open for eliciting public opinion and inviting views/suggestions and objections upto 26th of March 2008. The state government received about 3500 objections/suggestions, among them a few were considered by the State Govt. and amended accordingly.
Method & Approach - Comparison between Old Jantry & New Jantry (ASR 2006)
1)
The old jantry was based on Land & Building method both for urban/town or rural area whereas, the ASR 2006 has adopted Composite Rate Method as well as Land & Building method both in case of urban/town area and only Land & Building method in case of rural area.
2) For agriculture land, in old jantry the rates per hectare of land were based on the classification of land viz. uttam, madhyam & kanishtha with further classification viz. piyat or bin piyat, whereas, in new jantry a single rate per sq. mtr. of land is provided for any agriculture land falling within that particular village limits.
3) For urban/town area, in the old jantry different rates for different Final plot numbers or City Survey numbers were provided, whereas, in the ASR 2006 zonning approach is adopted and a single rate for a particulor type of property is provided for that type of property falling anywhere within that particular zone.
For example, as per new jantry, for a particular T.P. Scheme, the whole T.P.S. is divided into say 4 to 5 diffrent zones, and any particular type of property say Flat/Apartment type of property, a single rate is provided for all Flat/Apartment type of properties falling within the particular zone of that T.P. Scheme.
Statement of Rates for Urban/Town Area
ASR 2006 statement of rates provide :
i) Composite Rate i.e. single rate (land + construction) for Flat, Office and Shop type of properties,
ii) Rate of Developed Land for residential Bunglow/Tenament/Rowhouse or Open Residential Plot type of properties,
iii) Rate of Open Land for Agriculture Land & Industrial Land.
Statement of Rates for Rural Area
ASR 2006 statement of rates provide :
i) Single Rate of Open/Developed Land for Gamtal, Residential, Commercial, Agriculture & Industrial Land.

Guidelines for ASR 2006
(1) Definition of Types of Construction:
R.C.C frame structure
: Building constructed on R.C.C, Columns, beams with Masonry plastered by cement mortar, flooring of Tiles, Kota stone, Mosaic or other materials with electrification, plumbing completed in all respects.
Load bearing structure : Building constructed on load bearing structure with masonry, plastered on both side by cement mortar, flooring of appropriate materials with plumbing etc. completed with all respects.
Semi pukka structure : Building constructions on load bearing structure without R.C.C. slab but with masonry walls, plastered on both side, flooring, electricity, plumbing etc completed
with all respects.
Large scale Industries (enclosed steel structure) : Factories building constructed with steel structure having built up area more than 500 sq mt.
Small scale Industries : Factories shed constructed with steel structure built up area less than 500 sq mt.

(2) Rates of Construction - [Year 2006]
(A) Schedule of rates (SOR) for construction
:
Construction cost during 2006 for various structures Cost per Sq.mt in Rs.
Urban Area Rural Area
i) RCC frame structure with finishing items 5000 4500
(Pucca structures)
ii) Load Bearing structure (Pucca structures) 4500 4000
iii) Semi pucca structure 3000 3000
iv) Large scale industries (enclosed steel structures) 4500 4500
v) Small scale industries (sheds) 3000 3000

(B) Schedule of rates for incomplete structure:
Incomplete Structure 70% of the respective SOR as given in the above table.

(3) Rate of Depreciation on Old Buildings

Age of building in years Rate of depreciation for R.C.C. / Pukkaa Structure / Load bearing structure/ Industries


0-5 Nil
6 to 50 Per year 1% of total construction cost
51 & above Max. 50% of total construction cost should be given

(4) Carpet area, Built-up area :
If carpet area is mentioned in the document then built-up area should be arrived as follows :
Built up area = 1.20 X carpet area
Note: In case of old buildings where builders have recorded super-built-up area or saleable area or built-up area or carpet area including common space etc. in the original agreement and in the records of the society the carpet area of individual flats is not available, then it is better to obtain a certificate of carpet area along with the plan of the flat from an architect. On the basis of this certificate you can get the letter from the society regarding carpet area of your premises.

(5) Residential Projects
For valuing value of Flat / Apartments Rates to be considered as per value of the
respective zone
i) Built up area from 25 sq. mtrs to Decrease by 10%
100 sq. mt
ii) Between 101 to 200 sq. mt Increase by 10%
iii) 201 sq. mt & above Increase by 20%

(6) Valuation of Banks and Hospitals, Nursing Home, Coaching class, Gymnasium and
library:
(a)
Determining the value of Banks, Hospitals, Nursing Home, Coaching class, Gymnasium and library Situated on above first floor, rate for office from the respective value zones shall be taken into consideration,
(b) However, when the Banks, Hospitals, Nursing Home, Coaching class, Gymnasium and library are on the ground floor and first floor, rate for the shops from the respective value zones shall be taken into consideration.

(7) Basement :
If basement is used for residential use then it is to be valued at 40 % of the rate applicable to the Residence in the respective value zone.
If basement is used for commercial purpose then it is to be valued at the ASR applicable to the respective value zone.

(8) Mezzanine :
Valuation of Mezzanine should be valued at 70 % of the respective value zone rates.
(9) Shop on First Floor & Second Floor :
While valuing first floor shop in commercial Complexes, it should be valued at 75 % of the rate applicable to the shop in the respective value zone.
While valuing second and above floors’ shop in commercial Complexes, it should be valued at 70 % of the rate applicable to the shop in the respective value zone.

(10) Shops having frontage of Road :
Shops having frontage of roads valuation shall be done on the basis of rates of shops in the respective value zone as mentioned in ASR
(11) Shops have no frontage on road :
75% of prevailing rates of shops in the respective value zone should be applicable.
However, it should be observed that rate of ‘shops with no road frontage’ is not less then the rate of offices on upper floor.
(No reduction for floor and road frontage for shop in shopping mall & arcade)
(12) Terrace:
Except terrace on individual Bunglow, valuation for the terrace for the purpose of flat/offices should be done at 40% of rate mentioned for the respective value zone.

(13) Open land surrounding the building :
When open land adjoining with flat / office / shop is purchased, the open land is to be valued at 30% of rate applicable to developed land value in the respective value zone.
This rate should be applied on the apartment type building whose composite rates are applicable.
(14) Car parking :
Parking under closed garrage under shed has to be valued at 5% of the rate applicable to property purchased in the respective zone. For open parking space valuation should be done by taking 10% rate of developed land prevails in the respective value zone.
Where area of parking is not mentioned 8 sq. mtrs. for each car space will be considered but where area is mentioned the same will be calculated based on that area.
Note : value such arrived will be added to the value of the property purchased.

(15) E.W.S. slums or other buildings:
Residential Building having total Built-up area up to 25 sq. mt, the value mentioned in the documents should be considered as market value for stamp duty purpose.
(16) Valuation of old Building (Tenanted Property – more than 15 Years)
(Applicable only for tenanted residential property)
If the tenant is for more than 15 years, 20% reduction in actual market value (Municipal tax showing tenant in the property continuously for more 15 years or rent recepits as the case may be produced for evidence).

(17) Property sold by auction or tender procedure
In such case the value is arrived by the Annual Statement of Rates or the value mentioned in the Agreement which ever is higher to be taken into consideration.
(18) Agriculture Land purchased for Non-Agriculture Purpose
(With reference to: Bombay Tenancy Act, 1948, Section 63A & 63 AA).
If agriculture land is purchase for non-agriculture purpose with permission of competent authority, in such case for stamp duty purpose value will be as per rate of appropriate purpose falls in the respective value zone. But if the area of such land is more than 10000 sq. mtrs. then 20% reduction in the respective ASR will be considered.
(A copy of Order by Competent Authority must be attached with the Document.).

Input Form
In ASR 2006, Input Form is designed which is to be filled in by the presenting party at the time of registration of document on the basis of the information provided in the Input Form the Sub Registrar Office will calculate the amount to be paid towards stamp duty and registration fees, if party agrees to pay then after payment of such amount, the document will be registered by the sub registrar.
Apart form details of the seller and the purchaser and other related information particulars of the property like Postal Address, Locational details (i.e. F.P. No., Survey No., T.PS. No., etc.) , Category of property (viz. residential, commercial, industrial, etc.), Type of Property (viz. flat, bunglow, shop, office, factory shed, etc.), Area measurement of the property (viz. carpet area, built-up area, etc.), situational details (viz. ground floor, road facing, mezzanine floor, first floor, basement, etc.), type of structure (viz. RCC Frame, Load bearing, Semi pucca, Large scale indusry, etc.), Ameneties (viz. parking space, terrace, open marginal space, etc.), Stage of construction (i.e. complete, incomplete), Age of building, etc. are required to be filled in the Input Form.

Illustrations
For Urban area :
a)
Calculate market value as per ASR 2006 for a 10 years old residential flat admeasuring 100 sq. mtrs. built-up area with terrace rights of open terrace admeasuring equivalent to 50 sq. mtrs built-up area and reserved covered car parking of one car space, situated & located on the land bearing F.P. No. 100 of T.P.S. 21 (Ambawadi) :

This flat falls under zone number 1 of T.P.S. 21 and as per ASR 2006 the composite rate for residential flat is Rs. 12,000/- per sq. mtr.
Therefore for a new flat value of flat = 100 sq. mtrs. X Rs. 12,000/- per sq. mtr.
= Rs. 12,00,000/-

Construction value of a new flat as = 100 sq. mtrs. X Rs. 5,000/- per sq. mtr.
per S.O.R. @ Rs. 5,000/- per sq. mtr. = Rs. 5,00,000/-

Less depriciation @ 1% per annum = 10/100 x Rs. 5,00,000/-
for 10 years old flat = (-) Rs. 50,000/-

Therefore present value of flat = Rs. 12,00,000/- (-) Rs. 50,000/-
= Rs. 11,50,000/- ... .... ...(i)

Add for value of terrace admeasuring = 40/100 X Rs. 12,000/- per sq. mtr. X 50 sq. mtrs.
equivalent to 50 sq. mtrs. built-up area = Rs. 2,40,000/-
@ of 40% of market value of flat for the
respective value zone

Less 10% depriciation for a 10 years = 10/100 X Rs. 2,40,000/-
old building = (-) Rs. 24,000/-

Therefore present value of terrace = Rs. 2,40,000/- (-) Rs. 24,000/-
= Rs. 2,16,000/- ... .... ...(ii)

Add for value of covered reserved = 5/100 X Rs. 11,50,000/-
car parking for one car space @5% = Rs. 57,500/- ... .... ...(iii)
of present value of flat in the
respective value zone

Therefore Present Market Value for = (i) + (ii) +(iii)
Stam Duty & Registration Fees purpose = Rs. 11,50,000/- + Rs. 2,16,000/- + Rs. 57,500/-
of the flat as per ASR 2006 = Rs. 14,23,500/-


b) Calculate market value as per ASR 2006 for a 10 years old residential flat admeasuring 100 sq. mtrs. built-up area with basement admeasuring 50 sq. mtrs built-up area and open side marginal space in possesion admeasuring 50 sq. mtrs, situated on the land bearing F.P. No. 100 of T.P.S. 21 (Ambawadi) :

This flat falls under zone number 1 of T.P.S. 21 and as per ASR 2006 the composite rate for residential flat is Rs. 12,000/- per sq. mtr.

Therefore for a new flat value of flat = 100 sq. mtrs. X Rs. 12,000/- per sq. mtr.
= Rs. 12,00,000/-

Construction value of a new flat as = 100 sq. mtrs. X Rs. 5,000/- per sq. mtr.
per S.O.R. @ Rs. 5,000/- per sq. mtr. = Rs. 5,00,000/-

Less depriciation @ 1% per annum = 10/100 x Rs. 5,00,000/-
for 10 years old flat = (-) Rs. 50,000/-

Therefore present value of flat = Rs. 12,00,000/- (-) Rs. 50,000/-
= Rs. 11,50,000/- ... .... ...(i)

Add for value of basement = 40/100 X Rs. 12,000/- per sq. mtr. X 50 sq. mtrs.
admeasuring 50 sq. mtrs. built-up = Rs. 2,40,000/-
area @ of 40% of market value of
flat for the respective value zone

Less 10% depriciation for a 10 years = 10/100 X Rs. 2,40,000/-
old building = (-) Rs. 24,000/-

Therefore present value of basement = Rs. 2,40,000/- (-) Rs. 24,000/-
= Rs. 2,16,000/- ... .... ...(ii)

Add for value of open side marginal = 30/100 X Rs. 20,000/- per sq. mtr. X 50 sq.mtrs.
space admeasuring 50 sq. mtrs. = Rs. 3,00,000/- ... .... ...(iii)
@ of 30% of market value of
developed land for the respective
value zone (value of developed land
for zone number 1 of T.P.S. 21 is
Rs. 20,000/- per sq. mtr.)

Therefore Present Market Value for = (i) + (ii) +(iii)
Stamp Duty & Registration Fees purpose = Rs. 11,50,000/- + Rs. 2,16,000/- + Rs. 3,00,000/-
of the flat as per ASR 2006 = Rs. 16,66,000/-


Comments on ASR 2006
Methodology, Conception & Basis
In the entire document of ASR 2006, Methodology, Conception & Basis involved in arriving at the Jantry is not mentioned, had it been done, the picture would have been more clear and helped the reader understanding it easily and made the document more palatable.
Zonning Approach in Urban Area:
Application of zonning within a ward of old city of Ahmedabad keeping in mind main road touch properties and interrior properties seems to be effective and scientific. However, in T.P. Scheme area it seems to be less effective and a complete re-zonning exercise is required to serve the purpose and the same is recommended.

Jantry for Agriculture land in Rural Area :
A single rate per sq. mt. is adopted for agriculture land falling anywhere within the particular village limits. In rural area where for an agriculture land which is goining to be utilised for agriculture use only valuation should be done on the basis of "Agriculture Income" only wchich normaly dependent on the classification of land viz. uttam, madhyam & kanishtha with further classification viz. piyat or bin piyat.

Revision of ASR from 2006 to 2008
The ASR 2006, made effective from 01-04-2008 was prepared as on market situation of 2006. Disclosure of method and basis to be adopted for a revision to 2008 is required in order to make it more compatible with the present time and market situation.

Revision of Jantry at every year
A permenent machinery is required to be set up at the State Goverment for a regular updation in the ASR as may be required from time to time.
To set up a permenent Valuation Committee at the District level is recommended which may be comprising of members from technical side like, Government Regestered Valuers, Practicing Architects and Engineers, Town Planners, Real Estate Developers, Property Attorneys and Legal Advisors, Institution of related practicing professionals, sitting Govt. Officials from related departments and others.

ASR 2006 Challenged in Guj. High Court
Due to various errors and discripancies found in the document of ASR 2006, many have raised their objections. Kutchha Construction Industries and Rihabilitation Fedration & their members have filed a writ in the Hon. Guj. High Court through their advocate Mr. Girish Patel challanging the implimentation of new ASR 2006 for the district Bhuj.

Ketan Brahmbhatt
(Real Estate Valuer)
Readers of this article are requested to send their views/comments at E-mail - ketan@gicl.in

News Letters & Articles
-By GICL (http://www.gicl.in/)
Ahmedabad, Gujarat.
Date : 11 May 2008.
.....visit Gujarat Informatics Centre for Land(GICL).....

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Sunday, May 27, 2007

T. P. Scheme in developed area of Ahmedabad City (Gujarat) - Effect on existing properties

T. P. Scheme in developed area of Ahmedabad City (Gujarat) - Effect on existing properties

In the past decades, Ahmedabad city had a few new Town Planning Schemes proposed by the municipal corporation. The city town planning department was very slow about making new proposals of T.P. Schemes and action towards implementation of old T. P. Schemes. As a result considerable progress could not be made on account of development of the city through T.P.Schemes. Area of the city those covered by T.P. Schemes was developed in orderly manner. However, due to considerable delay on decision makings for a planned growth and in the absence of new T.P. Scheme proposals by the city town planning authority, all periphery/outer area falling within the municipal corporation limits developed in an unorderly manner resulted into various problems regarding city development issues.
In the past few years, due to new policy adopted by the state government, the AMC was allowed to hire services of town planning experts for preparation of new T.P. Schemes on contract bases and that has speeded-up the process of preparing and implementing new T. P. Schemes for Ahmedabad City.
In the absence of new T. P. Schemes in the last decades, almost all areas/localities within the old municipal limits developed in unorderly manner resulting into creation of challenges for making a T.P. Scheme within a developed locality or may be called a T.P. Scheme in a built-up locality. Proposal of a T.P. Scheme for a built-up area is very difficult. Accommodation of existing buildings and roads in addition to proposal for new roads within the built-up area and implementing those proposals is very difficult.
Here we will see the issues only relating to the existing properties falling within the area of a proposed T.P. Scheme.
How an existing property can be affected due to a proposal of T.P. Scheme?
What are the points to be verified in context with the proposal of a T.P. Scheme?
Let us see following possibilities :
1) If a new road is proposed and if it is passing through your property then you may loose a portion of land may be along with some building/s standing on it,
2) As a part of reconstitution of holdings, you may loose a part of your property and the compensation offered may be very low or you may get a Final Plot of size lesser than the area of your Original Plot,
3) A property may be relocated and Final Plot awarded may be placed at some other location than the present situation/location of the Original Plot,
4) Existing property is located on main road whereas the Final Plot awarded may be placed on a smaller road or a road of lesser importance, which may affect considerably the market worth of your property,
5) If a new proposed road is passing through your property or if the existing road is proposed for widening and if the property is of smaller size then you may have to loose the entire property against a small compensation offered to you
6) If a new proposed road is passing through your property, the remaining property may considerably loose its utility value and its market worth.
There are different possibilities how a property may get affected by a proposal of a T.P. Scheme in Built-up area.
If you are going to buy a property falling within a proposed T.P Scheme area, then you need to be very careful about aforementioned points and it is advisable to verify and take experts advise before you enter into a deal.
If you are owner of a property falling within a proposed T.P Scheme area then you must verify and take advise of experts and be careful in representing your case at the time of the initial stage of proposal of T.P. Scheme.
News Letters & Articles
-By GICL (www.gicl.in)
Ahmedabad, Gujarat.
Date : 27 May 2007.

Thursday, May 10, 2007

Hike in Rate of Interest - Impact on Real Estate Market

Hike in Rate of Interest - Impact on Real Estate Market

About two years back golden period started in the Indian history of Bank Loans where getting a housing loan started becoming much much easier and cheaper with a longer repayment period than what previously available from almost all banks.
Rate of interest for housing loan went down up to around 7% and borrower's margin for the project cost went down up to 10% with an extension of repayment period up to 25 years. Due to competition in the housing loan market among different banks and housing finance companies, borrowers (i.e. consumers and investors both) were at the benefit by different relaxations and facilities offered by them.
Due to easy supply of funds in the form of various housing loan schemes, builders and real estate developers got advantage of easy liquidity of money resulted into more buying of land for new housing projects which ultimately fueled the real estate market and a sharp rise in the property prices took place which lead to speculation in the property market supported by investors and speculators.
Due to varities of reasons and factors related to growing economy at a comparatively faster rate within a short period of time, a sudden rise in the inflation rate occurred. In order to abate the inflation rate the Finance Ministry of India came into action by taking number of measures among them one was to check the money market liquidity position by rising rate of interest for lending money by Banks. As a result, rate of interest for different type of housing loan went up to about 10.5% making the borrowed money more costly in comparison with the scenario in the recent past.
As a result the housing loan became costlier and the house purchasers or investors started adopting wait and watch policy on any fresh buying with the help of money borrowed from Banks. If the rate of interest continues to rise then the finance activities in the housing sector may come to a long halt that may result liquidity crises in the Real Estate Market and if it happens, it will affect the property prices negatively by 10 to 15% in the near future.

News Letter -
By GICL (www.gicl.in)
Ahmedabad, Gujarat.
Date : 10 May 2007.
.....visit Gujarat Informatics Centre for Land(GICL).....

Wednesday, May 9, 2007

Removal of Octroi - Impact on Real Estate Market in Gujarat

Removal of Octroi - Impact on Real Estate Market in Gujarat

Since long, different Chambers of Commerce in Gujarat demand for removal of Octroi from the state and recently they have started agitating against the state government to fulfill their demand.
What and how would it affect the Real Estate market of almost all major cities of Gujarat if the state government decides to remove the octroi.
All business enterprise related to trade & commerce within the city normally keep their warehouse/go-downs, stock yards at places outside the octroi limits of the city, over years which results into development of commercial hubs at the outskirt of the city with developed infrastructural facilities like Transport Nodes and other necessary allied activities. Similarly manufacturing companies also establish their units outside octroi limits which results into growth of industrial area at the outskirts of the city.
If the octroi is removed what will happen? One does not need to have his go-down at outside the city much away from his trading place instead he can have a new place more convenient and of better choice within the city and nearby to his present trading place resulting into considerable fall in demand for go-down estates outside the city. Similarly manufacturers may shift to a more convenient industrial area within the city resulting into fall in demand for outskirt properties suitable and meant for small industrial units.
This is how properties within the city will have an increased demand and properties outside the city will witness a considerable fall in demand. This will result into a fall in the market value of properties outside the city and rise for properties nearby to established trading/market places and well developed industrial areas/localities within the city.
Ahmedabad city is an interesting case study in context with the captioned subject.
In the recent past, limits of the Ahmedabad Municipal Corporation were extended up to the Sardar Patel Ring Road passing through the outskirt/periphery of the city which was recently developed by the AUDA. Due to the said extension in the AMC limits, major go-down estates and industrial area/localities including GIDCs became a part of AMC area falling within the city octroi limits which was previously outside the octroi limits.
This newer situation arising out of the extension of octroi limits compelled almost all traders and manufacturers to shift their places who had their go-downs or factories falling within the newly included areas to new destinations away and outside the new octroi limits. Due to this during this period the Real Estate Market at the outskirts of the city was affected considerably. For example 'Sarkhej' which happens to be the prime locality for warehousing/go-down activities for decades became a place of Vacated Estates with no fresh demand.
Within the short span of period mass shifting to a nearby new convenient place took place which resulted into a sudden rise of almost 50 to 70% in the market value of properties outside the new octroi limits (for example Changodar & Sanathal).
Now what happens if the octroi is removed? The answer is simple, people who shifted outside will start comming back to their old localities or to a new more convenient place even much inside the city somewhere nearby to their trading place and if it happens market value of properties at the outskirts will fall considerably and a newer demand for properties within the old developed city area will be seen.

News Letter -
By GICL (www.gicl.in)
Ahmedabad.
Date : 09 May 2007.

Saturday, May 5, 2007

Building Byelaws (General Development Control Regulation (GDCR)) - for Ahmedabad

To know all about the General Development Control Regulation (GDCR) for Ahmedabad in a very simplyfied form.

All major topics are compiled and listed alfabetically for quick & easy search and reference.
Refer all topics on diffrent Regulations viz. F.S.I. (Floor Space Index), Parking Space, Building Use (B. U.) Permission, Zonning Regulations, etc. compiled altogether on a single page.

.....and much much more on Building Byelaws visit......
"Encyclopedia" at Gujarat Informatics Centre for Land

Tuesday, May 1, 2007

Gujarat - Real Rstate / Property related Web-Portal

Are You an investor? / are You a purchaser?

Get Expert's Opinion before you enter into a deal
Get Your Property Valued Whether Its Worth?
Get advise before You invest
Investment tips
Be a Smart Investor
Do you wish to participate in a public aucion by Bank/Financial institution? - Wait !!!, Have you Verified ?
Are you sure? what you see in document actualy matches with the property on site?
Need assistance ?, Service ?
Are you confused?
Nevermind!! GICL (Gujarat Informatics Cenre for Land) is here to take care of your concern/s.

Saturday, April 28, 2007

Land Rate - Jantry Calculation for Gujarat State, India

How do I know what is the present Jantry Rate ?
How can I calculate it ?

Its very simple.

In the Gujarat State Jantry Rates were prepared and made effective from 1st April 1999.
An upward revision by 50% to the rates of 01 - 04 - 1999 was made effective by the state government from 9th February 2007 to be increased by 5% of the last effective rates at every year starting from and with the first effect from 01-04-2007.

For Example I want to know the Jantry Rate for land bearing Final Plot No. 100 of Town Planning Scheme No. 21 (Ambawadi) of Ahmedabad, Gujarat for the financial year 2007-2008, it will be calculated as under :

Jantry Rate for F.P. No. 100 as per 01-04-1999 is Rs. 7,500/- per Sq. Mt.
Jantry Rate for F.P. No. 100 from 09-02-2007 is 1.5 X Rs. 7,500/- = Rs. 11,250/- per Sq. Mt.

Jantry Rate for F.P. No. 100 for year 2007-2008 is to be increased by 5% i.e. 1.05 X Rs. 11,250/- = Rs. 11,812.50 per Sq. Mt.

.....To know more about Jantry, Stamp Duty and Registration Rates in Gujarat State, India and much much more.....
visit "Quick References" at Gujarat Infromatics Centre for Land