Officials reviewed market values in different areas before finalising the new rates. In many urban locations, circle rates may increase sharply. Premium areas are likely to see a bigger hike compared to semi-urban and rural regions.

Authorities say this is one of the biggest revisions in recent years. The updated Minimum Value Rates (MVR) aim to reduce the gap between official land prices and actual market transactions.

Many property buyers are now rushing to complete registrations before March 31 to avoid higher charges. After April 1, stamp duty and registration costs will rise based on the revised circle rates.

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At present, apartments do not get separate jamabandi entries for each flat. This creates confusion during sale, inheritance, or bank loans. To fix this issue, the government plans to allow one common jamabandi for the entire apartment land. Each flat owner’s share will be recorded based on the built-up area.

The new rule will apply mainly to newly constructed apartments. However, owners of older buildings may also shift to the new system if they choose. This move will make property records clearer and reduce future legal disputes.

Officials believe the policy will speed up land-related services and improve transparency. Builder associations and legal experts were consulted before drafting the proposal.

Once the policy gets final approval from the state government, it will be implemented across Bihar. The Single Jamabandi for All Flats of Apartment in Bihar is expected to benefit thousands of apartment owners by making land records simpler and more reliable.

The post Single Jamabandi for All Flats of Apartment in Bihar: What the New Policy Means appeared first on India Podcast.