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UP New Circle Rates: Starting Friday, property prices in this Uttar Pradesh district have gone up significantly, as new circle rates officially come into force. Whether you're buying land, shops, flats, or homes, expect to pay more than before. The sharpest hike has been recorded in the Mehrban Singh Purva area, where residential land rates have more than doubled from Rs 4,600 per square meter to Rs 10,000. While rates are climbing, there’s some good news too: the 18 per cent common facility charge previously applied to flats has been scrapped, and buyers of agricultural land will benefit from certain concessions.

Dr. Vivek Chaturvedi, Additional District Magistrate (Finance and Revenue), told Jagran.com that feedback on the proposed rate changes was accepted between August 9 and 21. “Objections to the proposed revisions in circle rates for sub-registrar offices including Sadar I, II, III, IV, Narwal, Bilhaur, and Ghatampur were invited from August 9 to 21,” he said. A review meeting held on August 22, chaired by the District Magistrate, considered 75 such objections. After incorporating necessary adjustments, the new rates were implemented on September 5.

For those building or buying in multi-storey residential projects, there's a bit of relief: construction cost valuations for buildings up to four floors have been reduced by 30 per cent to 60 per cent . Additionally, the earlier mandatory 18 per cent common facility charge on flats has now been completely removed.

Large non-agricultural residential plots will also see more flexible pricing. Plots between 1,000 and 2,000 square meters will now be cheaper by 20 per cent , those ranging from 2,000 to 3,000 square meters by 25 per cent , and plots larger than 3,000 square meters by 30 per cent . Previously, no such rate relaxation was offered for plots up to 2,000 square meters.

Commercial property valuation has undergone a key change as well. The old formula-based system has been replaced with a depreciation-based model, where the age of the building plays a role in determining its value allowing for discounts between 30 per cent and 60 per cent . Similarly, agricultural land in urban and semi-urban zones will now be priced using a new multiplier system. For instance, plots up to 0.051 hectares will be valued at four times the standard agricultural rate, while larger plots will be assessed using lower multipliers.

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Farmhouses haven’t been left out of the update either. The revised rules aim to align their valuation more closely with actual market conditions. Now, agricultural portions within farmhouses will be priced at the regular agricultural rate, non-agricultural portions at non-agricultural rates, and land up to 0.102 hectares will be valued at three times the agricultural rate.

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When it comes to commercial establishments, there's been some restructuring too. Properties with non-RCC/RBC constructions are now categorized separately for valuation. Discounts on carpet area based on which floor the unit is on have increased from the previous 5–15 per cent range to a more generous 10–20 per cent . Plus, the 10 per cent surcharge on carpet area that applied to shops with centralized air conditioning has now been eliminated.

On the whole, property rates have gone up across all sub-registrar offices in the district. Take a look:

- Sadar I: 26.75 per cent

- Sadar II: 34.27 per cent

- Sadar III: 34.99 per cent

- Sadar IV: 28.83 per cent

- Narwal: 31.66 per cent

- Bilhaur: 22.90 per cent

- Ghatampur: 27.20 per cent

The district-wide average increase comes to approximately 29.52 per cent , signaling a significant shift in the local real estate market.