An aerial view of Patliputra area. Telegraph picture

The district collector’s office, Patna, had, till April 30, received 21 objections against the proposed hike in the minimum value register (MVR) proposal, claiming the calculations were not logical.

Patna district magistrate N. Saravana Kumar on Friday said several objections would be incorporated in making the final revision of the MVR.

“Total 20 objections were made against an increase in the rate, while one objection was raised for a decline. All the objections were probed into and some were found to be genuine. Accordingly, the proposed MVR would be revised and a new rate would be implemented with effect from May 15,” Saravana said.

Danapur resident Ganga Ram claimed that most of the land near his home has been earmarked as residential but is being used for agricultural purposes. “The valuation of residential land is higher than agricultural. This would lead to unnecessary financial constraints in sale or purchase of land in our area, as most people are farmers. I have opposed the proposed hike and sought fresh survey of agricultural land here,” said Ram.

While most of the objections have been filed by people from the suburbs of the capital, the Builders’ Association of India and Bihar Chamber of Industries and Commerce have also submitted their memorandum against the hike.

Sachin Chandra, the state chairman of the Bihar chapter of the Builders’ Association of India, said: “Constructions in the state will suffer as prices of flats and commercial complexes will go up sharply. Money will be drained to other cities like the National Capital Region, Bangalore and Pune among others. Property prices cannot increase by 300-1,000 per cent in one go. We have requested the registration department to reconsider the review. A proper methodology should be adopted,” said Chandra.

Bihar Chamber of Commerce and Industries has also claimed that the hike is unreasonable. “The hike in MVR does not appear to be reasonable,” said AKP Sinha, secretary general, Bihar Chamber of Commerce and Industries.