Jamshedpur, July 30: Get ready to shell out about 20-30 per cent more for registering property from August 1.

The district sub-registrar’s office will hike land rates in the range of 20-30 per cent. The new rates are being worked out at the sub-registrar’s office. Tomorrow will be the last day for registering property at old rates.

In the last valuation, which came into effect on August 1 last year, land rates were hiked by about 5-10 per cent.

“We have now decided to carry out an evaluation every year, as the property rates are fast changing. With the new rates, we will come closer to the market value,” said an official of the district sub-registrar’s office, requesting anonymity.

According to a government directive, the new land valuation will be done in the urban, peripheral and census town areas. The census town areas are localities that are located in the periphery of the town and have a population of over 5,000 as per the last census report.

“This year’s valuation is different from previous ones. In the earlier surveys, the valuation was done locality-wise. However, in this survey, the land value will differ for plots and apartments on main roads, lanes and by-lanes of a particular locality,” added an official.

The sub-registrar’s office is witnessing a huge rush. On Wednesday, the registry department generated a revenue of more than Rs 28 lakh. The revenue collection is expected to reach Rs 30 lakh on Friday. The average daily collection at the sub-registrar’s office stands at Rs 7-10 lakh per day.

“We want to avoid the hike and are hence registering our property today,” said a builder at the sub-registrar’s office.