Ranchi: The real estate sector in the state, staggered under a number of problems, including the liquidity and sales of property because of the ongoing pandemic, has appealed to the Jharkhand government to consider slashing the line in Delhi and West Bengal to provide pillows to developers and prospective buyers.
Circle Rate is a minimum price set by the state government where a property needs to be registered after purchase or after the transfer.
Property registration occurs at the actual value of the property or the level of the circle set by the government, which is higher, after paying stamp duty and registration fees.
Chapter Jharkhand from the Confederation of Real Estate Developers of the Indian Developer Association (Credii) has also written a letter to the Chair of the Minister of Hemant Soren in this case in the middle of a report expected by a 10 percent increase in the rate of August 1.
They say the increase will press realty transactions because it will cause a rise in residential and commercial property costs.
While the state government has not officially announced a revised level, sources in the land registration department and revenue indicated that new plates are expected to apply since August 1.
In accordance with the regulations brought by the state government in 2018, land.
Rates must be revised every two years against previous practices to do so every year.
The last revision is in 2019, saying those who know.
The real estate sector, however, now lobbied Slash in a certain rate or stopped in the revision of the tariff because this year.
Vijay Agarwal, President of Credai, Jharkhand said, “Since the Covid-19 plague, the real estate sector has been hit hard.
Even though this sector slowly tried to revive, the second wave discussed another blow to the financial liquidity crisis among the developers.
Many prospective buyers It has dropped the idea or find it difficult to manage funds for cutting salaries, job losses, medical costs and the like.
Increasing the level of circle at this point will increasingly cause problems in the real estate business.
“Members of this sector hope to get an audience with the chairman of the minister immediately.
“We have written to CM with our attention.
Hopefully the government records it.
Countries such as West Bengal, Delhi has cut their tariffs or delaying increases.
For example, Bengal, in fact, reduces stamp assignments of 2 percent and line by 10 percent.
Expect similar steps here too, “he said.
Other leading developers, do not want to be named, “The real estate sector is one of the big employers and lakh people who depend on him for livelihoods.
This is the time to refute it to revive new prices because property sales have been neglected in Ranchi since the year Then.
Many builders find it difficult to get buyers for their finished projects while others cannot complete a delayed project due to lack of funds.
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