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    Land prices likely to decrease as Rajasthan government plans to cut DLC rate

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    Urban Development and Housing

    In a review meeting, Urban Development and Housing (UDH) minister Shanti Dhariwaldirected the officials to draft a feasibility report to bring down DLC rates and table it in the state cabinet meeting.

    Minister said the BJP government in its tenure had increased DLC rates by 40 percent, as a result, land deals in the state came to a grinding halt. Due to high rates, local bodies and development authority could not find buyers for its land when auctions were organised.

    Dhariwal said, “The increase in DLC rates not only made negative impact on the purchasers, but also the financial condition of local bodies got deteriorated . The coffers of the agencies had gone dry and there was no money to carry out development work. We are in the process to reduce DLC rates and revive the financial condition of our local bodies.”An official source in the department said the decision to reduce DLC rates is expected to be taken before Lok Sabha elections. Only once in five years, BJP in 2018 slashed the district lease committee (DLC) rates by 10% of many areas. However, at a time when the real estate market was facing a slowdown, BJP government on October 2014, increased the rates by 15% to 30% in the city.

    The same year, land prices got costly near the Ring Road project after the government increased the DLC by 40%. Similarly, in 2017, DLC rates (residential) were increased between 10% to 17% in many areas.

    Gopal Das Gupta, chairman, CREDAI, Rajasthan, said, “In past few years, DLC of many commercial areas has gone higher than the market place. We welcome the state government’s decision of reviewing the DLC rates. A DLC rate of the area is decided by a committee that includes local MLA, district collector. But, it became a trend that the district collectors were increasing the DLC rates without consulting the public representatives, due to which the imbalance was created.”

    To earn revenue and strengthen financial condition of local bodies, the Congress government will also organise camps under the Prashasan Shehron Ke Sang Abhiyaan.

    During the camps, residents can apply for procuring lease deed of plots, name transfer, regularisation of colony, sub-division and related works. “Relaxations that will be provided during the camp will be decided in the state cabinet meeting,” added an official.

    Info- https://realty.economictimes.

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