Property rates in Indore set to rise, new guideline proposal sent for approval

Indore: Property in Indore are set to become more expensive as district evaluation committee has finalised the new collector guideline rates for the next fiscal year. Following a review of 267 public objections on Tuesday, officials have approved rate hikes across 2,606 locations out of total 4,840 areas in the district.The revised guideline, which has been sent to central evaluation committee for final clearance, includes several significant changes. The proposed hikes range from 10% to 300%, as 115 locations would see rates double or even triple. Seventy-two newly developed colonies have been officially added to the guideline to regularise and streamline the registration process.Rates at 90 specific locations were increased following public demands to align agricultural land prices with nearby developed areas.Senior district registrar Manjula Patel confirmed that majority of the hikes at 1,553 locations fall within the 21% to 51% bracket. If approved, these new rates will take effect on April 1.Beyond price adjustments, the committee forwarded 11 specific policy objections to central committee in Bhopal. It includes persistent public demands for extending stamp duty exemptions to differently-abled citizens and ex-servicemen, similar to existing benefits for women and joint registration relief by granting women stamp duty concessions even in joint registrations with husbands or brothers.With registries expected to cost significantly more, starting the next month, a rush at registration offices is anticipated throughout the last week of March.