Builders Protest Sudden Increase in Jantri Rates Across Gujarat

Ahmedabad : In a wave of protest, builders, realtors, and developers across Gujarat are voicing their opposition to the recent sharp increase in the state government’s proposed Jantri rates, fearing that it will lead to a dramatic rise in property prices. The Jantri rate, a government-fixed value for land and property in India, plays a crucial role in determining the stamp duty and registration charges in real estate transactions. The hike, in some cases, is as much as 2000%, triggering widespread concern in the construction and real estate sectors.

The government has extended the deadline for submitting objections to the new rates by one month. However, builders, under the leadership of the Confederation of Real Estate Developers’ Associations of India (CREDAI), are demanding the withdrawal of the increase, which they say could cause house prices to soar by 30-40%. CREDAI has also called for an offline application option for submitting objections to ensure wider accessibility. Today, several rallies were organized in cities such as Ahmedabad, Rajkot, Vadodara, and Surat, where builders, developers, and affected citizens voiced their displeasure with the proposed hikes.

In Rajkot, builders organized a silent rally and submitted a petition to the District Collector, demanding that the Jantri rate increase be reversed and the implementation postponed until March 31. Local builders argue that the construction industry in Rajkot has already been in a slump following the TRP Game Zone fire incident, and the new rates could further cripple the market. “The Rajkot construction business has been dormant for the last six months, leading to a potential loss of 50 to 100 crores for the Municipal Corporation,” said a spokesperson from the Rajkot Builders Association. “We are already facing a revenue drop in stamp duty, and this sudden hike will make it even worse.”

Similar protests have been held in Vadodara, where builders and developers gathered at the Collector’s office to demand the withdrawal of the proposed Jantri rates. Builders argue that the new rates are unrealistic and disconnected from actual market prices. “The price increase, especially after the 2023 hike, has crossed over 2,000%, which is unfair to consumers and builders alike,” said Mayank Patel, Vice Chairman of CREDAI Vadodara. Builders fear that the new rates will lead to a 50-100% increase in property prices, making homes and commercial spaces unaffordable for the average citizen.

In Surat, builders have also submitted petitions to protest the sudden and unexplained hike. “We are in the real estate sector and don’t understand why the government has implemented such an increase without any clear survey data,” said Jignesh Patel, President of CREDAI Surat. “This increase will burden the common man and could derail the Prime Minister’s dream of affordable housing for all.”

The ongoing protests are set to culminate in the Gujarat Builder Conference on January 3, where builders, realtors, and related stakeholders will gather to present their concerns. Gujarat Chief Minister Bhupendra Patel and relevant ministers are expected to attend, and CREDAI plans to present a detailed case against the hike, arguing that such a drastic increase would undermine the state’s housing goals and adversely affect the economy.