Builders Protest Against Jantri Rate Hike: Warn of 40% Housing Price Surge, Plan Legal Action

The state government has announced revised Jantri rates, increasing them by two to three times, significantly impacting the real estate sector and common citizens. CREDAI Ahmedabad GIHED has strongly opposed this steep hike, requesting an extension for objections and suggestions until March 31, 2025, and proposing offline submission options at the collector or mamlatdar offices.

Housing Prices May Surge by 35–40%

If the proposed Jantri rates are implemented, housing prices could rise by 35–40%, making homeownership unaffordable for many. Developers and buyers are particularly worried about the financial burden, with some builders already halting new projects for over 12 days. The hike could also adversely affect those who have registered properties but are yet to complete documentation.

12 Years Without a Jantri Rate Increase

According to CREDAI Ahmedabad President Dhruv Patel, the last Jantri revision was in 2011. While incremental yearly increases were suggested, the government opted for a sudden, significant hike in March 2023 without market review. Patel emphasized the need for gradual revisions to avoid such disruptions.

Insufficient Time for Objections

The state has provided only 30 days for objections and suggestions, despite taking over 18 months for surveys. CREDAI Ahmedabad argues that this timeframe is insufficient, especially for rural citizens and farmers, who may struggle with the online submission process. The organization is demanding both online and offline submission mechanisms.

Rate Increase Ranges from 200% to 2000%

Preliminary studies by CREDAI reveal that the proposed hike ranges from 200% in urban areas to as much as 2000% in rural and smaller towns. Such steep increases are expected to impact farmers, landowners, and developers the most.

Builders May Approach Court

If the government does not revise the proposed rates, CREDAI Ahmedabad may take legal action. They argue that the government’s survey lacks transparency, with several discrepancies in zoning, market rates, and survey numbers.

Construction Projects on Hold

The hike is likely to stall new construction projects. Developers worry that increased stamp duty and project costs will deter citizens and developers alike, impacting the overall growth of the real estate sector.

Farmers and Citizens Bear the Brunt

The impact of the hike is most severe on farmers and landowners, who may struggle to cope with the revised rates. CREDAI emphasizes the need for a more scientific and equitable approach to Jantri rate adjustments, ensuring minimal disruption for all stakeholders.

CREDAI Ahmedabad continues to advocate for transparency, fairness, and gradual implementation to mitigate the potential fallout from these drastic revisions.