Revised land reserve price in Jaipur outskirts: All you need to know
JDA reduced land reserve price on Thursday.
Last Updated: February 1, 2018, 1:48 pm
Jaipur: The Rajasthan government on Thursday reduced the land reserve price in the outer areas of Jaipur to boost property market. This will come as a big relief to builders and property buyers in the city. They have been demanding a drop in the prices for a long time as they were weighting down on the already slump property markets. The land reserve price in high population areas has remained unchanged. JDA had sent a proposal to urban development and housing (UDH) department in this regard. The UDH minister Srichand Kriplani gave his nod to the proposal on Thursday. JDA issued orders, reducing reserve price with immediate effect. Property experts said that homes will get cheaper as the fee paid for 90A conversion, building plan and lay out plan approval is determined on the basis of land reserve price. The end buyer will benefit from the reduction only if builders revise their rates accordingly. In September, 2015, JDA had increased land reserve manifold. Builders and developers protested the increase as it was slowing down the property market. For the first time, land reserve price has been linked to the width of the road.
- Land situated on 80-100 feet road will draw a reserve price 10% higher than land situated on roads less than 80-feet wide.
- Land reserve price for land situated on 100-feet wide road will be 15% higher.
First published: September 15, 2017