The Gujarat government doubled the jantri, or the annual statement of rates (ASR), for immovable properties in the state from Sunday to give due market value to properties of citizens, in a revision coming after a gap of 12 years.
The state revenue department issued a notification to this effect on Saturday.
The calculation of the stamp duty and registration fees is possible with the help of ASR. In case of land acquisition for various projects, the ASR are considered as the basis for giving compensation to land owners.
Superintendent of Stamps Jenu Devan in a statement said there has been a sharp rise in the prices of immovable properties owing to changing circumstances in the state due to rapid industrialisation, urban and rural development and economic activities.
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“In order to give continued impetus to the states development and to give due market value to citizens properties, the jantri rates existing since April 18, 2011, are being doubled from February 5, 2023,” he said.
If the jantri rate was Rs 100 per square metre (in an area), then it will be Rs 200 per square metre from February 5, 2023, the official said.
The ASR is an essential guideline for the assessment of stamp duty, which is charged on the agreement of sale of a property. It also enables to indicate the property prices for every location or a specified area within an administrative boundary.
(With Agency inputs)