What is the Jantri rate and how does it affect property prices?
The biggest real estate news that hit Gujarat recently is the increase in the Jantri rate. If you are someone who is looking for an apartment for sale in Gujarat, this is a piece of information you should definitely be aware of.
Everything To Know About The Jantri Rate
The Jantri rate is the minimum property rate below which a property cannot be registered. This rate is prescribed by the Gujarat government and is determined based on the property’s location, how old the property is, the type of property, availability of amenities, etc. The latest news that took the real estate industry by storm is the government announcement of an increase in the Jantri rate by 100 per cent. This is effective from April 15, 2023. From commercial plots to luxurious flats in Vadodara, every property can only be registered and documented above the Jantri rate determined by the government.
How To Check The Jantri Rate
If you are wondering how to check the Jantri rate in Gujarat, all you have to do is go to the official website of the Gujarat government’s revenue department where you’ll find the “Jantri” option to click on. You will be shown Gujarat’s map and its various districts. Click on the district you want information on and submit the taluka, village, survey number, and land type. Once you submit this information, you will be shown the Jantri rate of that particular area.
The Effect Of Increased Jantri Rates
It is important to note that even if the market value of the property is lower than the Jantri rate, the latter will be considered when calculating the stamp duty and registration fees. However, if the market value is more than the Jantri rate, the former will be considered.
The market rate of properties is bound to increase with an increase in Jantri rate. Hence, we suggest homebuyers make smart property investments. If you are looking for luxurious flats in Vadodara, Alembic Real Estate offers two premium projects – Kiara & Veda II, that offer 2, 3 & 4 BHK homes at great prices. The 2 and 3 BHK apartments in Chhani Nizampura by Veda II stand tall with eco-friendly specifications, sustainable planning and the finest construction quality. Alembic Kiara offers 4 BHK homes that are crafted for an exclusive luxury life. With picturesque views, premium amenities and excellent connectivity, the homes of Alembic Real Estate remain the best investment you can make in your lifetime.