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Fresh guidelines bring realty boom

THE LAND guideline boom has Indore rocking. Guideline rates for 2006-07 that have come into effect from April 1 have registered an increase from five to 50 per cent, especially for agricultural lands that adjoin the City. Areas situated away from Indore witnessed 10 per cent increase.

india Updated: Apr 05, 2006 14:32 IST

THE LAND guideline boom has Indore rocking. Guideline rates for 2006-07 that have come into effect from April 1 have registered an increase from five to 50 per cent, especially for agricultural lands that adjoin the City. Areas situated away from Indore witnessed 10 per cent increase.

With land turning out to be the safest investment, people are buying it like never before. About 45,000 land registries were done in 2005-06 in the district fetching Rs 225.32 crore as registration fee and stamp duty, which is 47 per cent more than the corresponding period last year. The number of land registries made in 2004-05 stalled at 38,622.

Women made a significant contribution to state exchequer by paying land registration fee of Rs 650 crore. Out of total, 7,000 registries were done in March alone with 400-500 land registrations done every day. The March collection was Rs 61.90 crore.

“The revenue has increased two and half times in past two years. Apart from shares, land is the hottest investment in Indore. Our revenue is highest after sales tax,

First Published: Apr 05, 2006 14:32 IST