Singhbhum Chamber raises concerns over high registration prices for residential flats in Jamshedpur

Mail News Service

Jamshedpur, Sep 26: The Singhbhum Chamber of Commerce has formally raised concerns with the Secretary of the State Land Revenue and Registration Department, Chandrashekhar, IAS, regarding the government-fixed registration prices for residential flats in Jamshedpur, which they argue are significantly higher than the actual market values. This communication was also shared with Chief Secretary L. Khiangte, IAS, and East Singhbhum Deputy Commissioner Ananya Mittal, IAS.

During a joint press conference, Chamber President Vijay Anand Moonka and Honorary General Secretary Manav Kedia highlighted the disparities in registration prices across different areas. Moonka expressed dissatisfaction, stating, “In most areas of Jamshedpur, the registration prices fixed by the government exceed the actual market price. Moreover, applying the same rate for both new and old residential flats is neither fair nor logical.”

The Chamber provided a detailed comparison of government-notified rates and actual market values, showcasing the discrepancies. For example, in the Mango area, the government rate is set at ₹4,951 per square foot, while the market value for new flats is around ₹3,500-4,000 and for old flats, it’s ₹2,500-3,000. Similar inconsistencies were noted in other areas such as Sakchi, Bishtupur, Kadma, Sonari, and Jugsalai.

Vice President Anil Modi and Advocate Rajiv Agarwal expressed the community’s frustration, noting that for years, the government has routinely increased the registration prices without proper consultation or feedback. Modi remarked, “There is no discussion on what the registration rate should be for old versus new flats. This results in equal registration fees being imposed for both, which is unreasonable.”

Echoing these sentiments, Vice President Abhishek Agarwal Goldy and Puneet Kanwatia emphasized the need for a more transparent process. They suggested that the government should engage with administrative officers, experts, legal professionals, and other stakeholders before finalizing registration prices.

The Chamber’s other office bearers, including Secretary Bharat Makani, Anshul Ringasia, Binod Sharma, Suresh Sharma Lipur, and Treasurer CA Anil Ringasia, joined the call for discussions with relevant parties to arrive at a fair and just pricing system. They urged the Land Revenue and Registration Department to take their concerns seriously and implement a more equitable approach to setting registration prices for residential properties in Jamshedpur.