The Ahmedabad Urban Development Authority (AUDA) has decided to auction 18 plots in different regions of the city for residential and commercial use at a base price of Rs 1,238.35 crore, with the most expensive plot in Vejalpur's TP Scheme 6 priced at Rs 2.84 lakh per sq. m. AUDA's land pricing committee met twice, once on March 9 and again on April 13, to establish the values and base prices for these plots, ignoring the impending increase in jantri rates on April 15. Despite the increase in jantri rates, AUDA officials stated that the new rates would not impact the plot prices as the valuation took into account sale deeds and other factors.
Suppose you owned a property and were aware that the state government intended to increase the jantri rates on April 15. In that case, it would be reasonable to wait until the new rates were implemented before selling your plots. However, Ahmedabad Urban Development Authority (AUDA) did not follow this approach.
The AUDA committee responsible for determining land availability and pricing convened twice, once on March 9 and again on April 13, just two days before April 15, in order to establish the values and base prices for 18 exclusive plots in the western region of the city. In the past, the previous jantri rates were applicable. When asked about the urgency of the land price fixing committee meeting, AUDA officials tactfully avoided the question by stating that Jantri rates hold no relevance in the process of determining land prices.
Revenue department sources told TOI that the existing jantri rates discussed during the land price fixing committee meeting were crucial. All sale deeds from the last year need to be considered to set the base price of plots. The sale agreements are drafted according to the prevailing jantri prices. The land fixing committee, headed by AUDA, will meet on April 13th to evaluate last year's sale records and set a high valuation. If they wait until after April 15, when jantri rates double, the base price of AUDA plots may change due to a potential increase in sale deed valuation.
There are 18 plots situated in different regions such as Bopal, Vejalpur, and Manipur-Godhavi. The apex planning body intends to conduct a special auction for a plotting scheme in Motera-Koteshwar, with a set base price of Rs 1,238.35 crore for 17 plots.
AUDA CEO DP Desai stated that jantri is not relevant in determining the base price of a plot as per the state government's land disposal policy. The valuation takes into account sale deeds and other factors. The new jantri would not impact the plot price. The AUDA board decided to auction 18 plots for residential and commercial use at a base price of Rs 1,238.35 crore in a meeting held last week. AUDA anticipates over Rs 1,500 crore in income from the auction, with the costliest plot in Vejalpur's TP Scheme 6 priced at Rs 2.84 lakh per sq. m and intended for commercial purposes.
Vejalpur plots are expected to generate Rs 270.62 crore, with the largest plot in Bopal TP Scheme 3 up for auction at Rs 1 lakh per sq m. This plot is worth Rs 279.70 crore. AUDA had set a base price of Rs 290.76 crore for five Bopal plots in July 2021. The auction was cancelled for unspecified reasons.
Jantri rate in Ahmedabad is the minimum property rate for registration and determining stamp duty and registration charges. Gujarat's revenue department revises Ahmedabad's Jantri rates based on factors such as structure type, infrastructure, and locality. Jantri rates in Ahmedabad have increased 400% since 2008-09.
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