Bhopal, March 17 -- The recent proposal to increase collector guideline rates by an average of 18% in 1,283 locations across Bhopal has come in for stringent opposition with critics arguing that frequent hikes in benchmark property rates inflate real estate costs, slow down development, and push housing out of reach for the middle class.
While the government claims these increases reflect market trends and earn enhanced revenues for the state, realtors and buyers say they distort the sector and limit accessibility.
Benchmark property rates, or circle rates, serve as the minimum valuation for tax purposes. While these rates prevent underreporting of property transactions-a common method of circulating black money-their unchecked rise creat...