New guideline rates to be effective on April 1: 779 areas see 10 to 50% hike in collector’s guideline of properties

Indore (Madhya Pradesh): Collector’s guideline of immovable properties in the district will see an average 4.42% rise in the next financial year - 2023-24. In all, 202 new locations have been included in the guideline. The highest 60% rise is in Bypass area, particularly the area around Jhalaria. 

The Central Evaluation Committee approved the proposals of the guideline forwarded by the District Valuation Committee as it is.  

Balkrishna More, senior district registrar, informed here on Tuesday that proposals approved by the District Evaluation Committee were sent to Central Valuation Committee, Bhopal, which gave its approval on Monday. The new guideline rates will be implemented on April 1. The guideline will be implemented in 4,931 areas in the entire district.

There are half a dozen areas where registries have taken place at a higher rate, so there has been an increase of 50% to 60% in those areas, while in other areas there has been an increase of 10% or more. There are some other areas along with 202 new colonies, where the guideline will be applicable from April 1 for the first time. 

Good number of registries being executed

More said that there are only three more days left for the current financial year, and there is a rush among people to register their properties. As of now, revenue of around Rs 2,000 cr has been collected. The target is Rs 2323 cr, which has to be achieved by March 31. At present, slot booking is being done till 6.30 pm and the time can be extended if needed for the remaining days of the financial year. 

Geo-tagging likely from next FY        

The Sampada-2 portal will be used by the government from the next financial year, and information about the guideline will be available through the mobile App. As geo-tagging has been done for all the areas, the guideline rate will appear on the screen as soon as those areas are entered.

Areas that have seen the highest increase 

In the last year, the real estate business is improving and colonies are being developed all around the city. The maximum increase in the guideline, which is about 60%, was made in the areas located between Bypass and Khandwa Road, Super Corridor, Rau Rangwasa, Ujjain road and Nanod areas. However, very little change has been made in the guidelines in the central area of the city, where there are old properties.

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