• Source:JND
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Lucknow Circle Rates Revision: The Lucknow District Administration has announced new circle rates under the Uttar Pradesh Stamp (Valuation of Property) Rules, 1997, and its subsequent amendments, to come into effect from August 1.

The proposed rates in the Uttar Pradesh capital are available for inspection at the assistant inspector general of registration (first and second) and all sub-registrar's offices in the district. 

Moreover, individuals can also access the revised rates on the Lucknow district official website: lucknow.nic.in. The latest revision was announced 10 years after the last revision in 2015. 

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What is the circle rate?

Circle rates are the government-set minimum prices for selling, buying, or leasing a property. As the revised circle rate will be rolled out from August 1, the district administration has sought suggestions and objections from stakeholders.

In case of an objection or suggestion, the stakeholders can submit from July 2 to July 17 between 10:00 am to 5:00 pm. Apart from submitting physically, the stakeholders can also submit their suggestions and objections online via email to aiglko01@gmail.com or aiglko02@gmail.com.

After July 18, the suggestions and objections will be disposed till July 27.

Revised rates 

As per the latest revision, the circle rates have been increased from 15 per cent to 25 per cent, depending upon the location and type of property.

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For commercial properties like shops, offices, and warehouses, the circle rate has been increased by 20 per cent. For commercial plots, the buyers will now have to pay 50 per cent more than the non-agricultural rates.

For agricultural land, the proposed increase in circle rates is up to 15 per cent in rural areas. In Urban areas, the circle rates have been increased up to 25 per cent.

The latest revision strives to bridge the gap between the circle rates and the market values of properties in the state capital.