Rajasthan State Government Slashed District Level Committee Rates

In the wake of the slump that the real estate industry has been witnessing, residential plots of 3000 square metres and above will be given an additional 5 per cent relaxation in valuation.

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Rajasthan State Government Slashed District Level Committee Rates

Rajasthan Chief Minister has slashed the District Level Committee rates (DLC) for agriculture, residential and commercial land by 10 per cent and announced that the rates will not be increased during fiscal 2018-19.

The CM said the decision has been made in consideration of demands by several institutions and provision of ‘affordable houses for common man’.

Read Also: RHB Rajasthan Planning To Construct 23,000 Houses On PPP Mode

There were also provisions made to provide some relief to the real estate industry, which was under pressure due to a slowdown. In the wake of the slump that the real estate industry has been witnessing, residential plots of 3000 square metres and above will be given an additional 5 per cent relaxation in valuation.

Read Also: Land Regulation Rate Rajasthan Increased In 18 Cities, Rajasthan

The budget, at the same time, has also proposed construction of affordable houses by the housing board in the public-private partnership mode. Rural properties in the periphery of urban areas have also been provided relaxation and will be registered taking into account agriculture land rates.

Read Also: Next 6 months RHB to Launch New Housing Schemes Rajasthan

These, along with various other incentives, have seen a relaxation in stamp duty charges. This is expected to boost the real estate sector. The budget has also proposed having 3 D Building Infrastructure Model (BIM) for building plan approval. The project will be initially implemented in the four ‘smart’ cities of Jaipur, Udaipur, Ajmer and Kota.

Source Link- http://www.dnaindia.com/.

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