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Gujarat Real Estate to face a new impediment

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As reported by a source at the www.propertykhazana.com Gujarat state to develop the lucidity in the realty transactions has introduced Jantri prices, while the realty experts uttered that there will develop a tense situation in the sector, if the revised Jantri prices are implemented. At the same time, the stock market collapse will add up the additional burden and higher stamp duties. In areas like Nikol and Vastral, the revised Jantri rates are almost 50 times more than the present value.
If the revealed source at the www.propertykhazana.com is to be believed then the areas with Rs. 120 per Sq.yards will now touch Rs. 4000 for the same and Mr. Motibhai Prajapati of Madhav Group and member of the Eastern Builders Association had similar opinion. Adding his statement, Vijay Shah of Ahmedabad said that every year the Jantri prices are being revised by 5% but in February 2007 it was revised by 50%. Jantri prices impact is bad on properties in Surat, Vadodara, Rajkot and Ahmedabad and he also added that soon there will be drop down in the Gujrat market which is predicted to fall by 20%.
Mr. Shrenik Shah, Chief Executive Officer of Space Management said that the Janri Prices effect will avoid the investors and entrepreneurs and will increase the genuine buyers with less property transactions and high demand.
Source: NBTVLIVE

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