From the beginning of next month, the area lease rates in the Sadar tehsil of Ayodhya district are set to increase by a maximum of 200 percent after seven years, as confirmed by the authorities on Friday.
Following the religious consecration of the Ram Temple in Ayodhya not long ago, real estate values in the vicinity of the temple have seen a rapid surge. Click here to get in touch with us on WhatsApp.
Traders, property firms, and major hospitality groups are buying properties in Ayodhya.
Ayodhya Divisional Commissioner Gaurav Dayal stated, “A notice for the rise in circle rate has been released, with the precise circle rate to be announced during the initial week of the following month.”
As per a statement at the District Collectivity here, following September 4, the local administration is slated to disclose the updated community tax rate, following the completion of the process.
Following the directive from the District Magistrate of Ayodhya, the updating of the property valuation list within the district was completed in accordance with Rule 4 of the Uttar Pradesh Stamp (Valuation of Property) 1997, as reported in the notice. Additionally, the text mentions that the e-commerce sector is driving the growth of the state’s packaging and export markets, as per the industry. Furthermore, Canadian company Vitera has committed to invest $250 million in the agriculture sector of Karnataka’s Vijayapura region, as per the announcement. The case concerning the 1984 anti-Sikh riots has seen the court directing the preparation of charges against Tytler. The Chief Minister of Rajasthan, Bhajan Lal, has sealed agreements for investments valued at $4.5 trillion. Moreover, the Chief Minister of Manipur has pledged to ensure full peace in the state within a period of six months, firmly stating that there will be no pressure for resignation.
The Social Development Manager, Tehsildar, and Deputy Registrar together carried out the survey, and a new circle rate for 2024 has been created, it further stated.
Acknowledging the steep rise in property prices, attributed to extensive construction projects throughout the city culminating in the consecration of the Ram temple in January, the district collector has suggested raising the property tax in the area due to the current market trends.
The pricing here underwent a change just recently, in the year 2017.
The last price chart showing details to potential purchasers about the extent of the increase will be accessible to everyone on Wednesday the following month, as stated by the officials.
“Inspector General Stamp of Ayodhya Yogendra Singh mentioned that properties close to the Ram Mandir region and adjacent to the highway were acquired between 41 to 1,235 times over the average price in the previous three years,” he revealed.
“In this scenario, it’s projected that the land recurrence rate in major regions will rise by 200 times compared to the previous situation,” Singh mentioned.
Consequently, Akhilesh Yadav, the President of the Samajwadi Party and visitor to Kannauj on Friday, claimed that the hike in taxes at the local level in Ayodhya was executed to favor the BJP’s supporters.
“Individuals who purchased properties at discounted prices are now able to sell them at a premium, unlike when the residents received compensation, there was no rise in the valuation circle rate,” Yadav claimed.
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