Buying property and land in 42 districts of UP has become expensive, circle rates have increased, know more
UP News: An important update has come for people planning to buy land in Uttar Pradesh. The state government has announced an increase in the circle rate (minimum price) in many districts, which will make buying land more expensive now.
Uttar Pradesh News: If you wish to buy land in Uttar Pradesh, then this news is going to be useful for you. Your pocket is going to be more loose now because the increase in the circle rate of UP is the reason for this.
The Yogi Adityanath government of UP increased the circuit rate on Tuesday. The circuit rate has been increased in 42 districts of the state.
In such a situation, due to the rapid increase in the market rate, not only will the land rates increase here, but buyers will also be burdened. So let's know in which districts of Uttar Pradesh the land prices have increased.
New circle rate applicable
In fact, the implementation of the new circle rate in 42 districts of UP has increased the land prices. With this decision, circle rates have increased in Ghaziabad, Amroha, Kanpur, Firozabad and Shahjahanpur, and new rates have also been implemented in Mathura, Sambhal, Pilibhit, Mau, Deoria and Bhadohi. Thus, the circle rate has been changed in 42 districts of Uttar Pradesh.
With this step of the Yogi government, farmers will get the right price for their land and the state government will get money by increasing the circle rate.
By visiting the official website of Uttar Pradesh Revenue Council igrsup.gov.in, one can see the exact circle rate according to each district, tehsil and area of the state.
Circle rates are different
Circle rates of land in Uttar Pradesh vary depending on districts and regions. Circle rates are the price that calculates stamp duty and land registry.
From time to time, they change. If you want to visit the official website of Uttar Pradesh Revenue Board, igrsup.gov.in, you can check the exact circle rates as per district, tehsil and region.
Stamp duty and registry charges
Changes in circle rates have a significant impact on stamp duty and registration. Increasing circle rates increase stamp duty and registration charges.
For example, if the circle rate in Lucknow increases from ₹60,000 to ₹70,000 per square metre, the stamp duty (at 7% rate) on 100 square metres of land will increase from ₹42,000 to ₹49,000.
This costs buyers more. Increasing circle rates also affect property prices. Developers fix prices based on circle rates, making property purchases expensive.