Objections Overruled: Bhopal Property Rates To Soar By 18% Despite Public Outcry

Bhopal (Madhya Pradesh): Property rates across 2,887 areas are set to increase by an average of 18% for the financial year 2025-26, despite objections raised by MLAs, MPs and residents. Certain areas may see minor reductions due to public opposition.

The Central Valuation Board will finalise the revised property rates after an extensive discussion by the District Valuation Committee, which met under the chairmanship of Collector Kaushlendra Vikram Singh. The valuation committee meeting, held at the Collector’s office, was attended by MLA Bhagwandas Sabnani and other committee members.

During the meeting, the committee reviewed 55 public objections, out of which 11 were fully accepted, 7 were partially accepted, and 37 were rejected due to factual inconsistencies. A major point of discussion was the proposal for stamp duty exemptions on properties sold within specific timeframes.

The committee suggested that properties sold within a year should receive a full stamp duty exemption, while those sold within two to three years should get proportional exemptions. This move is aimed at encouraging real estate investment in Bhopal and other districts of Madhya Pradesh.

Suggestions from CREDAI (Confederation of Real Estate Developers' Associations of India) led to recommendations for changes in provisions related to agricultural land transactions. These suggestions will be forwarded to the Central Valuation Board for further evaluation and potential implementation.

During the meeting, Collector Kaushlendra Vikram Singh questioned officials about the sharp increase in property rates in certain areas, such as AdampurChavni. The District Registrar and other officials justified these hikes, citing significant improvements in infrastructure, enhanced connectivity, and rising market demand in these localities.

Although a few areas might experience minor reductions in property rates, the average maximum decrease across Bhopal is expected to be only 3-4%.

In contrast, 1,283 out of the 2,887 locations will see property rate hikes ranging from 5% to a staggering 300%. This trend is similar to the property rate surge in 2011-12 when prices rose by an average of 31.5%. The District Valuation Committee has unanimously agreed to forward these proposed rate changes to the Central Valuation Board for final approval.