revision in Gujarat is set to send property prices soaring, which some estimate as high as 100-200% by 2025.
The cost of purchasing FSI (Floor Space Index) is also going to increase for builders and developers. FSI is a parameter in real estate and construction that determines the maximum built-up area that can be constructed on a plot of land.
Currently, builders pay 30% extra for FSI in areas where the jantri rate is ₹15,000 per square yard. However, with the implementation of the new jantri, they will have to pay double or even triple the amount. This will lead to an increase in the prices of houses for common citizens and commercial properties.
Due to this increase, there is a possibility of an increase in the rates for purchasing FSI. Today, the jantri rates for Shela are around ₹30,000 to ₹40,000. In the new proposed jantri, the rates for areas in Shela will reach between ₹70,000 and ₹76,000 or even above ₹1 lakh.
As a result, there is a possibility of a 100% increase in the rates for purchasing FSI in this area. There are 39 TP areas in Thaltej. The jantri rate ranged from ₹40,000 to ₹70,000.
In the new proposed jantri, the rates for Thaltej can go up to ₹76,000 to ₹1,00,000. A big difference is being seen in the rates between TP areas and non-TP areas in the same locality.