The circular soil rate in Ayodhya, where the RAM temple was inaugurated in January 2024, increased up to 200 percent, depending on the use of land and location. The rates increased for the first time after almost eight years,
While the increase in rates was effective from June 7, Saturday – holiday, but land registration growing to new rates will begin from today, June 9 – when offices open up for normal work in the temple city.
“We assessed the proposal to increase the circular rate after we considered the objections we received for our proposal, which were sent in August last year,” said District Judge Ayodya, Nikhil Fundate said The Indian Express.
What is a circular rate?
The circle rate is the minimum price set by the government for property transactions in a particular area. These prices are used to determine cosmos and registration fees, which ensures that property transactions are not undervalued and that tax leaks are prevented.
The circle rate is determined by local administration and varies depending on factors such as location, type of property and infrastructure development.
Ayodhya’s circle has not increased over the past seven years, despite the increase in land transactions and the growing market value of land since the Supreme Court’s decision in 2019, which paved the way of building RAM Mandira in Uttar Pradesh.
Transformation from January 2024
Ayodhya undergoes an unprecedented transformation that was caused by a significant investment in infrastructure of $ 6 billion due to the inauguration of RAM Mandir in 2024. This development caused a significant rise in the real estate sector in the temple city.
An area near RAM Mandir, where the market rate of land increased since the judgment of the Supreme Court of RAM Mandir recorded the steepest hike at circular rates.
The highest hike of 200 percent was in villages such as Tihura Manjha, where the Mira Circle for “Agriculture” has been moving since August 2017 £11 lakh to £23 Lakh on hectare, informed Indian Express. In a revised circular rate in force from Monday it increased £33 lakh and £69 Lakh for hectares.
In the village of Tihura Manjha last year, actor Amitabh Bachchan signed an agreement on two land.
After considering the objections we received for our proposal, we approved a proposal to increase the circular rate.
Every year, the collector of each district can revise the values of land according to the amendment to the UTTAR Pradesh stamp of 2015 (originally approved in 1997).
Revision takes into account land use, availability of irrigation, proximity of roads, markets, transport nodes, factories, schools, hospitals, government offices and whether the land is in urban, radius or rural areas.
Ayodhya is one of the 54 districts of UTTAR Pradesh, where the circular rate was last revised in 2017, the report said. In 21 districts the rates were revised in 2023.
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