The average increase in land prices in the state may be 15 to 20 percent. Preparations are on to implement the new circle rates. The government has given instructions to make the proposals received from the districts in this regard more practical and logical. The circle rate revision proposal will be finalized within the next fortnight. The cabinet will take a decision regarding its implementation in the state. It is proposed to increase the circle rate in the state. Due to the Corona crisis, there was no increase in the price of land for almost three years. The government had increased the circle rate last year. Assessing the average increase of three years, the circle rate was increased by an average of 33.6 percent. To buy land in 2832 areas, 100 to 300 percent more price will have to be paid per square meter. Circle rates were increased very much in the plain districts Dehradun, Haridwar, Udham Singh Nagar and Nainital. There were 2832 areas where the concerned person had to pay 100 to 300 percent more price per square meter to buy land. Circle rates were increased more in new national and state highways, big project sites of the center and state, rapidly developing new residential colony areas. The rate of increase was less in hilly districts.
According to the Uttarakhand Stamp (Property Valuation) Rules, 2015, circle rates are to be increased every year. Keeping this in mind, preparations are underway to increase the circle rates this year. Proposals regarding increasing the circle rates from the districts should be sent to the Stamp and Registration Department. These circle rates are being tested at the level of Inspector General of Stamp and Registration. Many meetings have been held at the level of Inspector General so far. In the meeting held in this regard at the government level, deficiencies were found in the proposals of the districts. The government has given instructions to resolve these deficiencies within a fortnight. An increase in the circle rate of land in both agricultural and non-agricultural areas in the state has been proposed. Residential colonies are developing rapidly in semi-urban areas adjacent to urban areas. The eyes of the government are fixed on these areas. Last year, there was a ruckus calling the increase in circle rate too much. It was feared that this would affect the purchase and sale of land and revenue income may decrease. It is a different matter that this fear remained unfulfilled. There has been a big increase in the income of the government from stamp and registration. In the financial year 2023-24, 435 crore more income was received from stamp and registration as compared to the year 2022-23. More income is expected from this item in the current financial year as well. Finance Secretary Dilip Javalkar said that an increase in circle rate is proposed this year as well. In this regard, some deficiencies were found in the proposals received from the districts. The districts have been asked to rationalize the proposal to increase the circle rate in various areas. This proposal has been asked to finalize by the next fortnight. The decision regarding how much the circle rate will increase will be taken at the government level. The Finance Department will present the proposal in this regard before the Cabinet.
