Jaipur’s Residential & Commercial Circle Rates Increased By 10%
With the new financial year starting from April 1, residential and commercial circle rates in Jaipur will increase by 10% which will make registration and stamp duty amounts higher. However, there has been no change in the rebates given in stamp duty as per the previous financial year. At present, the highest district level committee (DLC) rate in Jaipur is for C-Scheme and MI Road areas, where per square feet costs range between Rs 90,000 and Rs 1.25 lakh. The cheapest land is in the Amer-Jal Mahal area, where the land prices range between Rs 12,000 and Rs 42,000. Last year, DLC rates were increased by 5%. The DLC decides the rates to calculate the minimum value of properties. The DLC rate of any property is decided according to its location, market value and available facilities, which are then divided into different categories which include residential, commercial, institutional, and industrial. Implementation of the model code of conduct, therefore the new rates will be applicable immediately. However, rebates in stamp duty which were there earlier, will continue to remain until some change is made by the state government,” said a senior official from the registration and stamps department of Rajasthan. Officials said that the increase in these rates were announced by the state government as part of its financial budget. They also said that the department receives a major part of their annual income from stamp duty from Jaipur district. Due to better facilities like schools, higher education institutes, big hospitals, international airports, the rates are high in Jaipur. In areas like Jagatpura, Model Town, Indiragandhi Nagar area the rates vary from Rs 16,800 - Rs 19,650, for Sodala, Nandpuri, Hawa Sadak, Shyam Nagar, Suez Farm areas the DLC rate varies from Rs 16,800 to Rs 70,000. In areas like Vaishali Nagar, Hanuman Nagar, Vidyut Nagar, Chitrakoot area, the DLC rate varies from Rs 48,000 to Rs 65,000.
Tags : residential commercial circle rates Vaishali Nagar Hanuman Nagar Vidyut Nagar Chitrakoot area DLC rate