Before 2008, property valuations were often inconsistent. The 2008 Jantri was designed to: across urban and rural zones.

For years after, the 2008 jantri served as the baseline for measuring economic impact. For instance, in 2011, reports highlighted that the "old jantri, fixed in 2008," was two to three times lower than the new rates proposed in 2011, underscoring the rapid escalation in valuations.

The 2008 Jantri rates were not merely a routine adjustment; they became a long-standing benchmark for stamp duty, registration, and later, the regularization of unauthorized construction. What are Jantri Rates?

: Higher Jantri rates meant higher upfront costs for buyers due to increased stamp duty.

Before delving into the events of 2008, it is essential to understand what jantri is and why it matters. The Gujarat government's Revenue Department determines the minimum market value of land and property, which is documented in the jantri. This valuation is crucial as it is used to calculate the stamp duty and registration fees payable during property registration. Stamp duty, a tax on the transfer of ownership, is generally a percentage of the higher amount between the actual sale price and the jantri rate for that property.

"There are some land parcels here where the actual price is ₹119 per sq yard but the revised jantri puts it at ₹4,000 per sq yard. Our business will get impacted due to this," said Motibhai Prajapati of Madhav Group and member of the Eastern Builders Association.

Although the Gujarat government began the process of revising Jantri rates in 2006, the new, higher rates were officially implemented in 2008.

The Gujarat Revenue Department used a specific matrix to calculate the base rates for individual properties in 2008:

Open land rates jumped from roughly ₹5,500–₹9,000 per sq. mt (in the 2008-09, era) to ₹35,000–₹1,00,000 per sq. mt.

: Legal cases from 2008 confirm that property documents had to be "properly stamped" based on this 2008 Jantri system. Historical Context & Subsequent Revisions

| Location | Jantri Rate (per sq. meter) | | --- | --- | | Ahmedabad (City) | ₹ 5,000 - ₹ 15,000 | | Ahmedabad (Suburban) | ₹ 2,000 - ₹ 6,000 | | Surat (City) | ₹ 3,000 - ₹ 10,000 | | Surat (Suburban) | ₹ 1,500 - ₹ 4,000 | | Vadodara (City) | ₹ 2,500 - ₹ 8,000 | | Vadodara (Suburban) | ₹ 1,200 - ₹ 3,500 |

Suresh Patel, president of the Gujarat Institute of Housing and Estate Developers (GIHED), captured the industry's frustration: "It was for the first time that Jantri rates were revised and implemented without inviting objections from the members of the public... the new Jantri rates raised by 200 per cent to 2,000 per cent were not practical".