Land prices in Ayodhya are skyrocketing, circle rate increased by 200%, know where the most expensive
The property rates in Ayodhya are on the seventh sky. Due to the increase in circle rates by up to 200 percent, land prices in Ayodhya are skyrocketing. Officials said on Monday that after eight years, the circle rates of Ayodhya have been increased by 30 to 200 percent. According to PTI news, this growth has been done on the basis of place and land use. The new rates implemented on Monday have had a special impact on the areas falling within 10 km radius of the Ram Janmabhoomi temple, where the rates have increased by more than 150 percent.
26,600-27,900 rupees per square meter
According to the news, Rakabganj, Devkali and Awadh Vihar residential schemes are now the most expensive in the district. Due to the development of religious tourism and infrastructure, the major place has been revised to Rs 26,600-27,900 per square meter due to the development of the temple-which is much higher than the earlier rates of Rs 6,650-6,975. This information has been given by Shanti Bhushan Choubey, Deputy Registrar of Sadar (Faizabad) Tehsil. The revised rates have been implemented after the proposal submitted in September 2024.
Choubey said that after the resolution of objections, District Magistrate Tikaram Funde has approved the new circle rates and has now been implemented. The most active land transaction areas have seen the most increase. Choubey said that this increase has been implemented in different ways in separate categories of residential, commercial and agricultural land according to location-specific demand and use.
What did the builders react?
Saurabh Vikram Singh, director of a builder firm in Ayodhya, said that the increase in circle rate also means an increase in stamp duty. However, this benefits the landowners by being in the official value of the land, which helps in better loan evaluation and property evaluation. Real estate developer Vivek Aggarwal said that the move can help in curbing unaccounted transactions. This promotes transparency. The circle rate is the minimum price at which property can be registered in a particular area. It acts as a base line for calculation of stamp duty and is also used to fix compensation in land acquisition cases.
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