Property rates to be hike 11% in Bhopal from April

Land and property prices will see a significant hike starting this month (April). The new collector guidelines will come into effect in Bhopal today. There is a proposal to increase property rates by an average of 18 percent.

Some locations will see property rate increases ranging from 5% to 300%. This proposal has been sent to the Central Valuation Board. The opposition has already raised concerns about it. Ministers, MPs, and MLAs have expressed their views on the issue, and CREDAI will now meet Chief Secretary Anurag Jain.

CREDAI President Manoj Meek stated that CREDAI in Bhopal is demanding a halt to the collector guidelines, as they have been continuously increasing.

A sub-evaluation committee meeting was held on March 13, during which a proposal to increase Bhopal's collector guideline rates was discussed. Before its implementation, 200 claims and objections had been received. The proposal is now being sent to the Central Evaluation Committee.

The proposal includes rate increases ranging from 5% to 300% at 1,283 locations out of 2,887. The rate hikes on Kolar and Hoshangabad Road have drawn the majority of objections. The meeting will also discuss the 200 to 300% increase in rural areas.

The number of locations has been reduced from 3,883 to 2,885. The proposal now includes rate hikes for 1,283 locations, while rates will remain unchanged at 1,601 locations. Seven new locations have been added. Last year, an average increase of 7.19% was implemented across 1,443 locations.

CREDAI has made several demands regarding the collector guidelines. They are calling for an immediate halt to the increase in rate guidelines, a ban on any increases for the next three years, a return to rates at the 2019-20 levels, the removal of provisions related to agricultural land, and a transparent process for determining guideline rates, with the formation of an independent expert committee.

The second revised guidelines of the year were proposed in November last year, with an increase of more than 5% to 200% in land prices at 1,283 locations.

BJP MP Alok Sharma, MLA Bhagwan Sabnani, and CREDAI Bhopal have opposed this. They had also met Deputy CM Jagdish Devda in November, but the proposal was postponed after that meeting.

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