The number of documents of real estate projects decreased: Due to recession and lack of completion, 2492 documents were reduced in Rajkot district in a month

Real estate is one of the most basic and important businesses in Rajkot. There is a class of buyers ranging from small houses to luxury flats. People are coming to Rajkot from all over Saurashtra for job-business-business, for studies. Due to which the number of commercial and residential projects is increasing day by day, but for the first time, the number of documents has come down in June compared to May. In June, the number of documents has come down to 12,088. Thus, the registration of 2492 documents has decreased in a single month. The government has also earned less of stamp duty due to the decrease in registration of documents. According to Pareshbhai Gajera, president of The Rajkot Builders Association, there is a slowdown in real estate at present, due to which the registration of documents has decreased. Apart from this, the builders are also telling the reason that no one has been taken in the new project due to lack of completion. Due to the decrease in the registration of documents, the government has lost Rs. 9 crore in the revenue from stamp duty and fees. Reduced registration of documents affects the area Rajkot's real estate provides livelihood to a large number of people. Around 300 other businesses are also associated with this segment. If this situation continues for a long time, then the livelihood will be affected.