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UP government revises circle rates to ensure fair land prices for farmers, boost revenue, and enhance transparency in land deals.
UP government revising circle rates for fair farmer compensation.
37 districts completed, more districts under revision process.
Increased revenue and transparency in land transactions.
Farmers to get rightful land prices under new rates.
Boost to real estate and infrastructure development.
The Uttar Pradesh government is working on revising the circle rate of land to ensure farmers receive proper compensation for land acquisition. This decision will help farmers get the right price for their land when it is acquired for infrastructure projects like highways and roads.
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Currently, farmers receive compensation based on old circle rates, which have not been updated for years in many districts. This results in lower payouts when the government acquires their land. To fix this issue, the state government is revising the circle rates across all districts, prioritizing areas where rates have remained unchanged for a long time.
Since January 1, 2024, the revision process has been completed in 37 districts, with updates ongoing in several others. The government plans to start the revision process in the remaining districts soon.
Fair Compensation: Farmers will get the correct price for their land during acquisitions.
Increased Revenue: The government will earn more through stamp duty.
Boost to Real Estate: Property transactions will become more transparent.
Development Acceleration: The revised rates will help in speeding up state projects.
The District Magistrate (DM) sets the minimum land price under Rule 4(1) of the Uttar Pradesh Stamp (Property Valuation) Second Amendment Rules, 2013. This rate is updated annually in August. If needed, the DM can also revise the rate in the middle of the year.
Some districts where circle rates have not changed for years include Lucknow, Varanasi, Meerut, Ayodhya, Gorakhpur, Jhansi, Prayagraj, and others. The revision process is currently ongoing in Shamli, Saharanpur, Aligarh, Mirzapur, and several other districts.
The circle rate is the minimum price at which land transactions can be registered. It prevents undervaluation during sales and ensures government revenue through stamp duty.
Circle Rate: The minimum price set by the government.
Market Rate: The actual selling price, which is usually higher.
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The UP government's initiative to revise circle rates will help farmers receive fair compensation, boost revenue, and enhance transparency in land deals. This move supports economic growth and ensures that landowners are not at a disadvantage. The ongoing revisions will play a crucial role in the state’s development and infrastructure projects.