Jaipur: Realty market improves after JDA issues pattas to plot owners | Jaipur News

JDA plans to earn Rs 46 crore revenue by issuing 15,819 lease deeds to owners whose houses are situated in 142 unapproved colonies

JAIPUR: The recent distribution of lease deeds here during the Prashashan Shehro Ke Sang Abhiyan 2021 has given boost to the real estate market, which was moving at a sluggish pace after Covid.
Not only property rates have increased, but number of transactions and queries for plots has also witnessed a gradual increase.
So far, the Jaipur Development Authority (JDA) has distributed 52,000 lease deeds to property owners in past one year and its aim is to issue 3 lakh lease deeds.
Manoj Agarwal, who is associated with real estate market said, “After Covid, people are preferring their own independent houses. As many plot owners have procured lease deeds, the option of loan is available to buyers. Also, property with complete documents including lease deeds is easier to sell even though prices are higher.”
A real estate agent said after the plot owners procured the lease deeds, property rates is increased by 30-35 % depending on the locality. For instance, a price of a plot before procuring the lease deed was Rs 25,000 has increased to Rs 35,000 or more.
Om Singh, who recently purchased a plot in Pratap Colony, Vaishali said, “In the past few years, in many colonies the residents were duped as housing society had issued double lease deeds of a single plot. After the camps were organized and JDA issued the lease deeds to the actual owner after verifying the documents, the faith was instilling in the buyers.”
A senior official at JDA said property market is set to improve as the authority plans to provide complete documents of the applicants of 3 lakh plot owners in regularised and unauthorised colonies in its jurisdiction.
An official said according to estimates, out of 1,036 approved schemes developed on private land, the JDA plans to issue 50,396 lease deeds to plot owners. Similarly, the authority plans to earn Rs 46 crore revenue after issuing 15,819 lease deeds to owners whose houses are situated in 142 unapproved colonies.
Similarly, the JDA has also sought data of 1,361 housing schemes developed by the cooperative societies before regularisation. “There are approximately 1,00,832 plots falling under these colonies. Lease deeds to these plot owners will be issued after examining the data,” added an official.