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- More Money Will Have To Be Paid For Buying Land In 1047 Mauja From August 1, But There Will Be No Increase In The Areas Around The City.
Ranchi6 hours agoAuthor: Santosh Choudhary
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In rural areas of Ranchi, from August 1, the government prices of land and pucca houses will increase by up to 10 percent.
In rural areas of Ranchi, from August 1, the government prices of land and pucca houses will increase by up to 10 percent. On the instructions of the government, the prices of land and houses are evaluated every two years. This rule came into effect from the year 2018. After this, in the year 2020, there was an increase of 10 percent in the price of land in rural areas. This time also the process of fixing the assessment afresh has been started.
Due to non-availability of land in the city, land is being bought and sold on a large scale on both sides of the ring road and in rural areas only. Because of this, there are dozens of villages where land prices will increase. The land prices are likely to increase the most in Bundu region’s Gosaideh, Edalhatu, Kanke ke Chandwe, Dubalia, Urugutu, Ratu ka Bonda, Belangi, Pandara, Namkum Ulatu, Karge, Sarwal and other areas. There will be no increase in the rate of land and house in the surrounding areas of the city this year. Because, the price of land in the city and surrounding areas was increased only last year. Now the prices in these areas will increase next year.
Current and proposed price of residential and commercial land in these areas
Meaning of increase in land and house prices
The government fixes the value of the land and house in different areas of all the regions. The purpose of this is that the property should not be registered in any case at a price less than the prescribed value. In order to increase the revenue and bring the government valuation at par with the market value, the land prices are increased every two years. For this, five deeds registered in the last two years at the maximum value in the respective Mauja are made the basis. But, in most of the Maujas, the land has not been registered at a price higher than the price fixed by the government. For this reason, a maximum increase of 10 percent will be done.
Inflation will hit land-flat buyers
Due to the high price and scarcity of land in the urban area, people are now buying land in the rural areas, so that when the city expands, it can be built there. Such buyers will have to spend more money in getting the land and flat registered. Suppose the government value of the land in Kanke’s Chandve is Rs 1.60 lakh dissimilar. At present, stamp and court fee of Rs 1.12 lakh is levied on the registry of 10 decimals. If there is an increase of 10 percent from August 1, the value of the land will be Rs 17.60 lakh. In such a situation, Rs 1.23 lakh will be spent on getting the registration done. That means 11 thousand more will have to be given.
“With the objective of increasing the revenue and bringing the government valuation at par with the market value, the price of land is increased every two years.”