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Azamgarh New Circle Rates: This one decision will affect many people. Anyone who wants to buy property will have to pay a higher price. A lottery is going to be held for those who want to sell their land. After the recommendation of District Magistrate Azamgarh Ravindra Kumar II, this new system has been implemented under Uttar Pradesh Property Valuation Rules 2013.
Azamgarh. If you also want to buy your dream house in Azamgarh or are planning to invest money in land, then now you will have to shell out more money. To buy land, house or any property in the district, you will now have to pay 10 to 12% more. The new circle rate has been implemented in all the sub-district offices in the district from December 5. After the recommendation of District Magistrate Azamgarh Ravindra Kumar II, this new system has been implemented under Uttar Pradesh Property Valuation Rules 2013. Under this, for registration of any type of land like residential, agricultural land, plot, building or any kind of commercial property in Azamgarh district, you will have to pay more stamp duty than before.
What will happen after this?
After the implementation of the new circuit board in the district, on one hand people will have to pay more money, on the other hand the government will get more revenue. Talking to Local 18 on this matter, Azamgarh’s Assistant Inspector General Stamp Rajesh Kumar said that as per the instructions of the District Magistrate, the new evaluation list has been implemented in the district. According to this list, the circle rate has been increased by 10 to 12%, which will bring about 10 to 20% revenue benefit to the government. With this, uniform rates will be determined as per the standards set by the government. Due to increase in circle rate, stamp duty applicable on purchase and sale of plot, house, shop or commercial properties will also increase. After the implementation of the new circle rate, all types of properties, agricultural, residential and commercial, will be identified and their market rates will be decided.
How are prices determined?
The circle rate of the property is decided on the basis of the current market rate or the facilities available there. Circle rates are higher in areas with facilities like good roads, transport facilities, hospitals, schools, markets etc. The location of the property also matters in this. The circle rate of any type of property in rural areas is lower than the urban rate.
