Proposed property hike in Bhopal on hold

 

 

 

Finance Minister Jagdish Devda has announced reconsideration of recently proposed collector guideline in Bhopal, the State capital. According to this guidelines issued on November 4, a proposal was made to increase property rate in Bhopal by up to 200%, on which a final decision will be taken only after review. After this announcement of the Finance Minister, voices of protest have subsided a bit, but the general public and people associated with real estate still seem dissatisfied with this proposal.

 

As per information, under this guideline, there was a proposal to increase property prices from 5% to 200% at 243 places in Bhopal. Many real estate developers, businessmen and local citizens strongly opposed this hike, because due to this, burden of property registrations at the new rate was going to fall on the pockets of common people. If this guideline was implemented, property registrations would have been done according to the new rates in 2025, which could have affected the property purchase plans of many people. Confederation of Real Estate Developers’ Associations of India (CREDAI) also took lead in opposing this proposed hike. On Wednesday morning, a delegation of CREDAI met Finance Minister Jagdish Devda and registered their objections. CREDAI’s Manoj Singh Meek said that after meeting the Finance Minister, it has been decided that any final decision will be taken only after discussions with all the parties. CREDAI has demanded a holistic consultation in this matter so that the interests of the common citizens of Bhopal can be protected. Bhopal MP Alok Sharma also opposed the proposal and met Finance Minister Jagdish Devda and registered his objections. MP Sharma demanded a decision to be taken by consulting the public representatives of Bhopal on this issue.

 

He said, “This type of unexpected increase can put a heavy financial burden on the general public, so extensive consultation is necessary before implementing it.” The Finance Minister agreed with MP Sharma and said that any step would be taken only after discussing all the necessary points. It was proposed to increase property rates in many major areas of Bhopal, such as Kolar, Ayodhya Bypass, Bhanpur, Salaiya, Minal, and Vaishali Nagar. The increase in rates was planned due to a large number of property registrations in these areas recently. Apart from this, areas like Narmadapuram Road, Misrod, Gulmohar and Aakriti Eco City are also included in this list. Finance Minister Devda has now directed the officials of the district administration and registration department to review the guidelines. Also, a decision will be taken after discussing with all the public representatives, MLAs, MPs, and other major stakeholders. Only after this will this guideline be implemented, so that the interests of all parties remain protected and stability is maintained in the property market.