Jantri jitters: city's realty market hits pause button

Draft Jantri revision sends ripples through the real estate sector, leaving developers and buyers uncertain till rates are finalised

- Kuldeep.Tiwari

The recent announcement of a significant Jantri rate revision has thrown the realty sector into a state of uncertainty. This move, which could potentially triple land values, has left developers and buyers alike grappling with concerns about increased project costs and higher property prices.

Developer dilemma

Dipak Patel, President of CREDAI Gujarat, said, "The hike in FSI charges could lead to a 15-25% increase in property prices, making it difficult for developers to maintain affordability.