Mail News Service
Jamshedpur, July 7: The Singhbhum Chamber of Commerce and Industry (SCCI) has raised strong objections over the government-notified circle rates for flat registration in various parts of Jamshedpur. The Chamber claimed that these rates are significantly higher than the prevailing market values, and expressed concern that both new and old flats are being registered at the same rate, which is unjust and confusing for the general public. The issue was highlighted through a letter addressed to Chandrashekhar, IAS, Secretary of the Department of Land Revenue and Registration. Copies of the letter were also sent to Jharkhand’s Chief Secretary Alka Tiwari and East Singhbhum Deputy Commissioner Karan Satyarthi. The information was shared by Honorary Secretary Manav Kedia.
Chamber President Vijay Anand Moonka stated that in almost all areas of Jamshedpur, the rates set by the government for registration purposes exceed the actual market prices. He emphasized that it is unreasonable to apply the same registration value to both new and old residential flats, as their market worth varies significantly. Moonka added that this practice creates confusion among property buyers and urged that the rates be made more reflective of ground realities.
The Chamber supported its claims with comparative figures across localities. In Mango, the government’s notified rate is Rs 4,951/4,126 per sq. ft., while the market value for new flats ranges between Rs 3,500 to Rs 4,000 and for old flats between Rs 2,500 to Rs 3,000. Similarly, in Sakchi and Bistupur, government rates are Rs 9,711/8,092 per sq. ft., but new flats sell for Rs 5,500 to Rs 7,000, and older ones for Rs 4,000 to Rs 5,500. In Kadma, Sonari, and Jugsalai, the government rates remain higher than actual market prices in both categories.
The Chamber criticized the government’s long-standing practice of increasing registration rates annually without public consultation or consideration for differences between new and old properties. This, they said, compels buyers to pay uniform registration fees regardless of the flat’s age or condition.
Other Chamber officials, including Vice President Anil Modi, Advocate Rajiv Agrawal, Secretary Bharat Makani, Anshul Ringsia, Binod Sharma, Suresh Sharma Lipu, and Treasurer CA Anil Ringsia, have jointly urged the state government and revenue department to engage with stakeholders and revise the rates thoughtfully. They stressed that transparent and sensible rate structuring will help prevent confusion and protect the interests of homebuyers.
