INDORE: Indore stamp and registrar department, which had made an increase of upto 100% in the collector’s guidelines of property rate at around 50% locations in the district, is expected to suffer a loss of crores of rupees due to postponing its implementation amid the general elections.
Following a proposal of Indore district evaluation committee, Bhopal-based central evaluation committee had in March approved an increase ranging 20% upto 100% in the collector’s guideline of property rates in approximately 2,450 areas out of a total of around 5,000 in the state’s commercial capital.
The same was set to be implemented from April 1 to help generate around Rs 2,700 crore of revenue by Indore stamp and registrar department in 2024-25.
“We have generated around Rs 2,400 crore of revenue through property registration in 2023-24 and with help of the new collector’s guideline for property rate, the same is expected to increase by Rs 300 crore in next financial year started from April 1” Senior district registrar Amresh Naydu said, adding that senior officials have approached the election commission for permission to allow implementation of the new collector’s guideline that is a set and routine affair in every financial year.
However, if the permission won’t be found fit on the election commission’s guideline, the new guideline is expected to be implemented after results of the general elections would be declared on June 6.
The same is expected to cause a ‘loss’ of additional 2-2.5% revenue growth i.e. around Rs 125 crore to Indore stamp and registrar department in next two months, the experts said.
