The District Level Evaluation Committee in Indore has received around two dozen suggestions, claims, and objections regarding the proposed hike in the Collector's guideline for property rates at 469 locations. This mid-term revision includes proposals to increase property values and add 105 new locations to the valuation guideline. The changes aim to generate higher revenue for the state government, with a target of INR 3,150 crore for 2024-25. The revised guidelines will be reviewed and approved by the Bhopal-based central evaluation committee in the coming days.
The District Level Evaluation Committee has received approximately two dozen suggestions, claims, and objections regarding the proposed hike in the existing Collector's guideline for property rates at 469 locations across the district. This process, initiated as a mid-term revision of the Collector's guidelines, aims to increase the guideline value for property in these 469 locations. Additionally, 105 new colonies or locations have been proposed for inclusion in the valuation guideline.
Indore district registrar, Amaresh Naidu, mentioned that suggestions, claims, and objections regarding the proposed rate hikes were invited until earlier this week. By the end of the deadline, around two dozen had been received. Some of these relate to the guidelines proposed for newly developed colonies, while others involve demands from villagers for higher property rates in their areas, alongside a few other suggestions. Naidu confirmed that all the received suggestions, claims, and objections would be addressed by Tuesday. Following this, the proposed guidelines will be sent to the Bhopal-based central evaluation committee for review during a meeting on Wednesday, to seek approval.
The stamp and registration department has proposed increases in guideline values for properties in 112 locations by 0-10%, 190 locations by 11-20%, 77 locations by 21-30%, and 90 locations by more than 31%. This mid-term revision aims to ensure updated and equitable valuations. Earlier this year, in March, the Bhopal-based central evaluation committee had approved an increase ranging from 20% to 100% in the Indore collector's guidelines for approximately 2,450 areas out of a total of around 5,000 in the state's commercial capital.
Senior officials revealed that the Indore stamp and registrar department generated total revenue of INR 2,540 crore in the past financial year. For the year 2024-25, the state government has set a target of INR 3,150 crore, a goal that the revised guidelines are expected to help achieve.
The proposed changes to the Collector's guideline for property rates in Indore, including rate hikes and the inclusion of new locations, reflect a significant effort to align property values with market trends. The mid-term revision aims to boost revenue, with a projected increase in collection for the state government. As the committee works through the suggestions and objections received, the final approval from the central evaluation committee is expected soon, marking a crucial step towards achieving the revenue targets for 2024-25.
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