Only minor concessions likely with new jantri rate

GANDHINAGAR: The Gujarat government, which is gearing up to implement new jantri rates from April 15, is expected to offer only minor concessions in jantri rates for paid FSI in affordable housing projects. Barring this concession, jantri rates will double in the state.
Chief minister Bhupendra Patel convened a meeting on Saturday last to take stock of preparations made by the departments concerned to implement the new jantri rates from April 15.
Top sources in the government said, "Jantri on paid FSI for affordable housing schemes where the plot of land is up to 50 square metres, is likely to be slashed by 25% to 50%. This will be applicable only for affordable housing schemes. Other than this concession, the government is intent on doubling jantri rates from April 15."
Developers who buy FSI usually pass on the financial burden to those who buy the houses. Thus, the jantri on affordable housing schemes of up to 50 square metres will not be double existing rates with effect from April 15, sources said.
Sources categorically said that the government has no intention of postponing implementation of new jantri rates. Earlier, the government had announced that jantri rates which would be doubled from February 4. However, the government received representations from various quarters against the decision, and the state government decided to defer the implementation till April 15.
Jantri rates are being revised in the state after a decade. The government's revenue from paid FSI (floor space index) between March 2023 and December 2023 was Rs 1,265 crore. Since paid FSI is calculated on the basis of jantri rates, the government's revenue from paid FSI is likely to climb.