indore realtors from madhya pradesh have strongly protested against move to hike land rates in state saying it was unrealistic and would make housing projects more expensive opposing guideline rates fixed by district land evaluation committee on directives of district collectors real estate developers are mulling to submit a memorandum urging state government for a review a member of credai confederation of real estate developers associations of india youth wing in indore district kunal jhaveri said thanks to unrealistic hike of land prices by district administrations no investor is willing to come forward and invest new guidelines rates have jacked up land price by rs 300 to 400 per sq ft in indore and nearby region vicepresident of credai bhopal unit manoj singh meek said latest nhb residex figures showed there has been a hike in land prices in bhopal by 78 only while state government has increased it by more than 15 while finalizing new guideline rates this is totally unfair we will submit a representation on the issue to state government on february 25 forget plots state government is planning to charge stamp duty separately for common area of a plot based on super builtup area for features like passage steps and garden within an apartment this will be reflected in new guideline rates effective from april 2014secretary of credai indore unit sandeep srivastava said we have already submitted our objections over guideline rates for 201415 before the state governmentcredais suggestions 1 review decision to raise agricultural land price by up to 100 2 fix market price of land based on the builtup area 3 price of industrial land must be fixed based on prices of residential plots