At a time of downfall in the market of real estate, Jaipur Development Authority has hiked the land reserve prices in several areas, however the existing prices of posh localities of Jaipur such as C Scheme, Lal Kothi, Raja Park, Malviya Nagar and Chitrakoot has also been increased by two times.
The decision has been made on Thursday, 17 September 2015. However the hiked prices are applicable in particular areas which has listed by JDA. The new hiked price has been activated on the existing prices from yesterday 17 September 2015.
According to the source, the last time reserve price was increased was in 2009. After the increase in the reserve prices, the price of land in JDA schemes is likely to shoot up significantly.
Also, following the hike, the allottees will now have to pay higher development, resumption and regularization charges. While the commercial reserve price will now be twice of the residential price, institution reserve prices shall see a hike %of 25% from the residential price.