JAIPUR: Despite its poll promise of not raising the district lease committee (DLC) rates of land, the Congress government has decided to hike it by 15% in the city.
Though an official notification is yet to be announced, the move is likely to make land more pricey in many residential areas and trigger a sharp fall in property purchases.
After the increase, residential DLC rate in C-scheme, which was Rs 52,250/ sq metre, will go up to Rs 60,080. DLC rate in Vaishali (residential) will now be Rs 34,080 from Rs 27,7750. The residential rates in Civil Lines would also see an increase of almost Rs 6,590 from Rs 50,550.
According to experts, the rates will not only affect lower-income group, but also make land and flats out of the reach of many middle and higher-income people.
Many feel that developers and promoters will use this as an opportunity to jack up their property rates. For example, even after the revised DLC rates, one yard of residential property in Bani Park is nearly Rs 28,280 whereas the prevailing market rate is Rs 80,000. But promoters may now hike their rates simultaneously.
After coming to power, UDH minister Shanti Dhariwal had announced that DLC rates would be reduced. But, nothing has been done in this regard.
The BJP had slashed the rates by 10% in many areas when they were in power in 2018. However, at a time when the real estate market was facing a slowdown, the BJP government had increased the rates by 15% to 30% in the city in 2014.