Owning your dream house has become a little more difficult as there is a proposal to hike registration fees by an average 18.21 per cent from April 1 in the city. This means a buyer will have to shell out an additional Rs 1.15 lakh for a property of Rs 50 lakhs. The highest increase of 21.62% has been proposed for properties located from LIG-MIG to Vijay Nagar, Nipania, Dewas Road and Bypass.
A meeting of the District Valuation Committee was called to fix the guideline rate for registration of properties in Indore district for financial year 2021-22. Collector Manish Singh, who is also chairman of the committee, MLA Mahendra Hardia, officers of registration department, IDA, MP Housing Board, TNCP and other related departments were present in the meeting.
At the meeting, it was proposed to increase the guideline rate by an average of 18.21% for the year 2021-22 keeping in view the expansion of the city and the government's need to maximise revenue. Suggestions\objections have been invited on the proposed guideline till 5:30 pm on March 17.
BK More, senior registrar informed that the proposed guideline can be seen in all the offices of district registrar and deputy registrars of the district.Collector Singh directed that the guideline should be finalised only after extensive analysis.
It should be kept in mind that there should be an increase in revenue from the guideline, but the common people should not be inconvenienced in any way. He informed that after going through the suggestions, the guideline rate would be finalised. MLA Hardia said that a more detailed study should be done before finalised the guideline.
It was informed at the meeting that the names of 365 new colonies and locations in the district would be added to the guideline for 2021-22. Out of this, 185 colonies are of the city, 28 from Mhow , 139 from Sanwer and 13 colonies from Depalpur region.
MIG to Vijay Nagar and Nipania becomes most expensive
The committee has recommended 16.21% rise in registration charges in the central part of the city, which is between Rajwada to Annapurna and Rau. A 19.29 per cent rise is proposed for the properties located from around Dhakkanwala Kuan to Palda Road, Bhanwarkuan. The highest 21.62% rise is proposed for properties located from LIG-MIG to Vijay Nagar, Nipania, Dewas Road to Bypass. 18.52% rise is proposed for the properties located at Aerodrome Road to Super Corridor.
Senior registrar More said guideline rates are being increased after five years. In 2019, the registration charges had been reduced by 20 per cent.
The district is very important for the state in terms of revenue collection. About 22 per cent of Madhya Pradesh's revenue comes from the district.