Bhopal (Madhya Pradesh): Increase in property rates of around 3500 locations in 52 districts have been approved in central valuation committee meeting on Wednesday. Collectors had sent proposal for hike in stamp duty and registration charges at 1.12 lakh locations.

Property rates have been put on hold in Bhopal, Sehore and Sheopur district. In Bhopal, deputy chief minister Jagdish Devda intervened so it has been put on hold while due to ongoing by - election in Sehore and Sheopur districts, proposal for rates hike have been put on hold. By-election is being held in Budhni Vidhan Sabha constituency in Sehore district and Vijaypur of Sheopur district.

Rates on an average increased at rate of 0.9 percent at 3 per cent locations. CREDAI delegation led by its Bhopal chapter president Manoj Meek called on deputy CM Jagdish Devda with protest against huge increase in property rates. Bhopal MP Alok Sharma handed over memorandum of CREDAI to Deputy CM.

Now, 3 percent increase in property rates at 469 locations have been approved in Indore. Around 105 new colonies have been added in Indore. As per proposal sent from Indore zero to 10 percent was proposed for 112 locations while 10 percent to 20 percent hike for 190 locations and 20 percent to 30 percent for 77 locations.

Inclusion of 105 new colonies have been approved in valuation committee. Inspector General of Registration and Stamp duty M Selveldran said, " property rates increased at rate on an average 0.9 percent at 3 per locations. Bhopal, Sehore and Sheopur property rates hike proposal put on hold.

Sheopur and Sehore, just because of ongoing by election and in Bhopal, rates hike put on hold after deputy CM intervention. We have sent back proposal of Bhopal to district collector."