Hike in property rates with cushion
Feb 08, 2014
Source : The Times of India
BHOPAL: Hike in property rates in next fiscal is not likely to burn a hole in pocket of citizens.
MLA Vishwas Sarang opposed rate hike in various areas of the district, saying that there is no logic behind the same and members of the district evaluation committee should take into account realty surveys done by National Housing Bank and Housing Start-up Index (HSUI).

On Friday, members of district evaluation committee met to discuss increase in property rates in various areas in the district. Sarang, who has been appointed as a member by minister in charge Gopal Bhargava opposed increase in rates "based on arbitrary norms". According to sources, he said committee should refer to HSUI and National Housing Bank and then reach a conclusion on the property hike.

Among the areas where the hike has been proposed include Khajuri Kalan and Lambakheda where an increase of 20% has been mooted.

Neelbad and Ratibad have been exempted on grounds of being a green belt and low-density areas. Besides, areas where there are BDA and housing board projects have also been kept outside purview of rate increase. Other areas are likely to have a nominal increase of around 5-10%.

Also, economically weaker section (EWS), low income group (LIG) and slum areas will also have no rate hike.

Collector Nishant Warwade, who is chairperson of the committee, has recommended members of the committee to deliberate the MLA's suggestions and substantiate their proposal of price hike in an area with definite reasons.

Sarang also suggested rates of some areas should be brought down as the hike in the last three years has been unprecedented.

The committee will now go over the issues as discussed at Friday meeting and finally upload final collector guideline suggestions on the website on Monday for objections


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