Real estate developers across Gujarat have withdrawn stir as the government decided to give a 50% relief on increased jantri rates.
With the revision in the rates, Confederation of Real Estate Developers’ Association of India (CREDAI) Gujarat, which is the apex body of developers in the state, has sought an end to the state-wide agitation against the increased jantri rates. Developers were to refrain from registering documents until May 5 as part of the agitation.
Realtors said the issue was not just limited to 4,000-odd developers but also affected consumers. Realtor Uday Bhatt said several issues related to capital gains tax were a cause of concern for farmers as well as developers. “Now, the rates are more realistic and the income-tax burden would be lower,” he said. “It will bring transparency in property deals and at the same time the burden on end-users will be lesser,” said Vijay Shah, former president of CREDAI.
“The new jantri had put a question mark on viability of proposed residential projects under new slum rehabilitation policy. But with 50% relief, feasibility of such projects have improved,” said realtor Rajesh Brahmbhatt, who intends to develop five projects under the policy in Ahmedabad.
