Buying property in Uttarakhand to cost more as circle rates soar

DEHRADUN: With the revision of circle rates in Uttarakhand after the state cabinet gave its nod to this effect on Wednesday, land rates at many places in Uttarakhand have shot up considerably. The average increase in circle rate, which has been effective from Thursday, is around 33%, although many places in fast-growing towns like Dehradun, Haridwar and Nainital have seen a more than 100% rise in the key locations.
After the revision, Mall Road of Nainital has become the costliest area of the state with a circle rate of Rs 1 lakh per square metre. Interestingly, the circle rate has witnessed a 15% hike in Joshimath area, which has been impacted by land subsidence.
Buying land on the renowned Mall Road of Nainital is a dream for nature lovers. However, one has to burn a hole in their pocket to purchase a land there as the rate of Nainital Mall Road has been revised to Rs 1 lakh per square metre. Earlier, the rate at Mall Road Nainital was Rs 66,000 per sqaure metre. After the rate revision, Mall Road has become the most expensive area of the state in context to land rates.
The circle rate in Joshimath area of Chamoli district has gone up from Rs 4 lakh per Naali (a land measuring unit in the hills) to Rs 4.6 lakh per Naali. This would impact the compensation rate for the areas affected by the land subsidence and affected families would get a bigger compensation. However, in other parts of Chamoli district like Badrinath and over 500 other areas, the revision has been less than 10%. In adjoining Rudraprayag district too, the change is rates has been less than 10%.
In the state capital of Dehradun, areas adjoining IT Park have witnessed the highest rise in circle rate by 150%. The rate here was Rs 14,000 per square metre and it has gone up to Rs 35,000 per square metre. In a sharp contrast, the circle rate revision has been minimum on the stretch of posh Rajpur Road from Clock Tower to RTO office. The circle rate of Rs 50,000 square metre has been changed to Rs 62,000 square metre. The rate from Mussoorie by-pass to Kuthalgate has more than doubled from Rs 24,000 per square metre to Rs 50,000 per square metre. The circle rate of Doiwala has gone up from Rs 5,000 to Rs 8,000 square metre. The jump is a significant one as the plans of Airport expansion are underway and the government is planning its major projects in the area. Selaqui area, known for its industrial units, in Dehradun has witnessed a rise by 50 to 100%. Areas close to highway routes have witnessed a significant jump in circle rates in Haridwar. The circle rate in Haridwar's Bahadarabad area near Haridwar-Roorkee by-pass has gone up from Rs 14,500 to Rs 35,000 per square metre and the rate has shot from Rs 15,000 to Rs 35,000 from Chandi Bridge to Shyampur Thana. The circle rate at Upper Har-ki-Pauri saw a rise from Rs 52,000 to Rs 60,000.
The circle rates have doubled in areas near Aroma Park in Kashipur and areas of Kiccha. Near Aroma Park is has gone up from Rs 3,800 to 7,000 and the rise in Kiccha is from Rs 6,000 to Rs 14,000 per square metre. Overall, the circle rates have been revised in 57,000 areas of the Himalayan state. Out of the total identified areas, the circle rate revision is less than 50% areas. The revision has been in the range of 51% to 100% in 59000 areas and there are 5% areas, which have witnessed a rise in excess of 100%.