Land shopping in Lucknow became expensive, new circle rates will be applicable from August 1

Buying land in Lucknow from August 1 will become more expensive than ever. The government has proposed an increase in the cost of buying flats in the apartments along with agriculture, residential and commercial properties. Some of the major colonies are being increased by more than double the existing circle rates.

One of the most prestigious areas of the city, in Gomtinagar, in some places, land prices can reach 77 thousand rupees per square meter. At the same time, this rate in Ansal API located on Sultanpur Road can be up to Rs 50,000 per square meter. A circle rate of Rs 65 thousand per square meter is proposed for the metropolitan region, while a similar increase has been made in Indiranagar.

After about ten years, the circle rates fixed by the District Magistrate (DM) are being implemented in Lucknow. Earlier, in 2015, the circle rate in Lucknow was renewed. There was a demand to increase the circle rates for a long time, and the farmers were also protesting on the issue.

The biggest impact of the proposed DM Circle Rate in Lucknow is going to fall on commercial and non-agricultural land. Proposal to increase the rates of commercial and non-agricultural lands by up to 50%. Buyers will have to arrange 20% more in their budget to buy flats in multi -storey buildings. The administration has invited objections and suggestions at revised rates till 17 July.

According to Additional District Magistrate (Finance and Revenue) Rakesh Kumar Singh, the objections received will be settled between July 18 to 27, and new rates will be effective from August 1. Copies of the proposed circle rate can be seen in Assistant Inspector General of Inspector (Registration I, Second) and all Deputy Firal Officers.

Only last month, Chief Minister Yogi Adityanath issued instructions for renewal of circle rates in other districts including Lucknow, after which the administration started survey work in this direction. The administration has focused on three main points in its survey report. In 2015, rates were prescribed for shops and offices compared to apartments located in revenue villages based on the prevailing rates, which has increased by up to 40% this time. Similarly, if any commercial or commercial activity is going on within the limit of a residential property, then 20% higher than the current circle rate will be evaluated. The assessment of assets in the proposed circle rate will also be increased by 50% more which have been recorded as a commercial property in the deeds.