What Will Be The Impact of The Latest Increase in Circle Rate of Land in Uttarakhand?

The recent circle rate increase of land in Uttarakhand is a pointer towards the healthy demand for land purchase in Uttarakhand.

Although the circle rates are revised annually, the procedure has been on hold for the past two years because of Covid-19. 57,000 areas across Uttarakhand had prices revised in 2023. In the preponderance of the identified areas, the circle rate rose by less than 50 percent.

The Uttarakhand cabinet approved the finance department's proposal to increase circle rates in all areas of the state with the exception of a few.

Although the circle rates are revised annually, the procedure has been on hold for the past two years because of Covid-19. 57,000 areas across Uttarakhand had their tariffs revised in 2023. In the preponderance of the identified areas, the circle rate rose by less than 50 percent.

In 5,900 areas, the rate increase ranged from 51% to 100%, whereas in approximately 2,850 areas, the increase was 100%. 

S S Sandhu, the chief secretary of Uttarakhand, stated that it is a lengthy process involving multiple encounters. The district magistrate reviewed the updates and, after considering various factors such as registries and circle rates, came to a conclusion. In addition, they visited websites pertaining to the purchase and sale of land in order to obtain current rates.

Land in Uttarakhand has been in high demand from buyers from all over India, particularly Delhi and Punjab in the north.

Certainly, the most recent increase in Circle Rates will have an effect on land sales in Uttarakhand. However, the effect would be negligible.