Raipur. Finance Minister OP Choudhary, addressing a press conference held at the BJP office in the Ekta complex, stated that under the guidance of Chief Minister Vishnudev Sai, important decisions are being taken for the overall development of Chhattisgarh. In this direction, suggestions, memorandums, and proposals were received from various stakeholders regarding the new guideline rates applicable in the state. Important decisions have been taken after considering these.
State Finance Minister Mr. Choudhary stated that the incremental valuation of plots up to 1,400 square meters in urban areas has been abolished, and the slab rate valuation has been implemented as previously established: up to 50 decimals in municipal corporations, up to 37.5 decimals in municipalities, and up to 25 decimals in town councils. The decision was also made to eliminate the provision of calculating market value based on the super built-up area for the transfer of flats, shops, and offices in multi-story buildings. Valuations will now be based on the built-up area. This provision has been in place since the time of Madhya Pradesh and has been a long-standing demand for vertical development in the state. This will ensure better use of land in town planning. He said that multi-story buildings and commercial complexes will be assessed with a 10 percent reduction on the basement and first floor, and a 20 percent reduction on the second floor and above. This will enable the middle class to access flats at affordable rates.
Finance Minister Chaudhary stated that properties located 20 meters outside a commercial complex will be assessed with a 25 percent reduction in the plot rate. The 20-meter distance will be calculated from the constructed portion of the complex facing the main road. The District Assessment Committee submits proposals for revision of guideline rates to the Central Assessment Board, which, after analysis, issues new guideline rates. It was decided to direct the District Assessment Committee to review the memorandums, objections, and suggestions received after the recent rate hike and submit proposals for revision of guideline rates by December 31st. He stated that these decisions of the Central Assessment Board became effective from December 8th.
Present at the press conference were State General Secretary Akhilesh Soni, CREDA President Bhupendra Savnani, State Spokesperson Amit Chimnani, Shatabdi Pandey, Kiran Baghel, and Ujjwal Deepak. Finance Minister Mr. Chaudhary stated that, on the instructions of Chief Minister Vishnudev Sai, the registration process is being simplified and made more public-friendly. In this regard, several important public-friendly reforms have been made to the guideline rates implemented on November 20th.
Some Important Decisions
: 1. In urban areas, the square meter rate previously applied solely to Nazul, inhabited, and converted land. Now, the provisions applicable to agricultural land will also apply to Nazul, inhabited, and converted land.
Benefits: In Ward No. 28, Shaheed Hemu Kalyani Ward in Raipur, the square meter rate is set at ₹195,000 per square meter and the hectare rate is ₹6 crore per hectare. In this area, 0.405 hectares, or one acre or 4048 square meters of land, would previously have been valued at ₹78 crore. Under the new provisions, the value will now be ₹2.4 crore.
2. Earlier, for converted land in rural areas, the price of irrigated land was charged two and a half times, this system has been abolished. Benefit: In Bilaspur's Sendri village, the rate has been fixed at Rs 1.60 crore per acre, earlier the price of one acre of land on sale in this village would have been Rs 4 crore, now according to the new provision it will be only Rs 1.60 crore.
3. The provision of adding 25 percent extra on the market price for two-crop land has been removed. Benefit: In Motipur, the rate of 1 hectare of land is Rs 2 crore 44 lakh, which would have been the actual guideline price of Rs 3 crore 5 lakh if there were two crops. According to the new provision, the market price will be only Rs 2 crore 44 lakh.
4. The provision of adding an additional ₹85,000 for tubewells and borewells and ₹70,000 for wells has been abolished.
5. The provision of adding a 25 percent additional value to commercial crops such as bananas, papayas, and sugarcane has been removed.
6. The practice of calculating the value of trees on the land by adding them to the land price has been completely eliminated.
Benefits: A sale deed was registered at the Sub-Registrar's Office, Kanker, on December 26, 2024. The sale deed included approximately 600 trees on the land, valued at ₹7.8 million. According to the new provision, this value has not been added to the land price, providing the buyer with a reduction of approximately ₹8.58 million in registration fees on the ₹7.8 million. Trees were often cut to save fees; now, land prices will no longer be affected by the number of trees. This has eliminated the tendency to reduce valuations by cutting trees and directly encouraged environmental protection.
7. In villages adjoining the city, agricultural land previously valued at the square meter rate for 25-37.5 decimals was now valued at the hectare rate.
Benefits: In village Baroda (Raipur), the sale of 37.5 decimals of agricultural land would have been valued at ₹26.75 lakh per square foot, but under the new provision, it will be valued at only ₹6.30 lakh.
8. The rule of valuing land at 1.5 times the land rate in the event of a pond or fish tank has been removed.
9. Previously, three rates (main road, irrigated, and non-irrigated) were applicable for rural agricultural land. Now, only the rates (main road and irrigated) apply. Furthermore, non-irrigated land will now be valued at 20 percent less than the irrigated rate.
10. The provision of adding ₹400 per running foot to the boundary wall and ₹300 per square foot to the plinth level has also been completely eliminated.
11. Previously, 21 different rates were applicable for properties built in municipal corporations, municipalities, and town councils. Now, only two rates will apply. The numerous rates often made it difficult for ordinary people to calculate the market value of their homes. Now, with only two rates, the calculation has become simple and easy.