Word that the government of Gujarat is likely to indicate higher jantri effective April 1, had spread to real estate dealers shows a number of transactions and a lot of stamp duty collected in March 2011.

February 2011 nearly 80,000 real estate deals were made, when the collection of stamp duty of Rs 316 crore.

“Initial estimates indicate an increase in both real estate transactions and the amount received by 40 percent in March alone,” said a top state government official TOI, adding: “The collection of trademark rights was March Rs 440 million rupees, of which about 1.12 lakh property transactions took place. ”

Four cities – Ahmedabad, Vadodara, Surat and Rajkot – and its suburbs accounted for 50 percent of all transactions and the amount collected.

Jantri, in which the Government charges six per cent of stamp duty, is the formal evaluation of the residence of the actual market rate. The collection for 2010-11 was Rs 3,605 crore rupees from 2,480 crore in 2009-10 against. There was momentum in the housing sector during the 2010-11, the monthly collection hovers around Rs 300 crore up to February 2011. The monthly average monthly revenue of Rs 200 crore last year. “However, a sharp increase in the collection March 2011 suggests dealers knew what was coming,” said the official.

Based on these figures, a senior official said: “Much of the buzz that the farm would be in recession because of the new rates jantri is just an eyewash. The expectations were high that new rates will be announced Yantra any time. Thus, Most of the dealers decided to dispose of their properties during the year 2010-11, in general, but more so in March 2011. There was a similar expectation of further rate Yantra announced a year earlier, in March 2010, which led to a similar increase in real estate transactions. “by timesofindia