Ayodhya Land Rates Skyrocket: Impact on Real Estate Market
The circle rates in Ayodhya have been significantly revised after eight years, with increases ranging from 30% to 200%. This adjustment largely affects areas near the Ram Janmabhoomi Temple. The new rates impact real estate transactions and address issues of transparency and illegal dealings in the property market.
Ayodhya's circle rates have seen a substantial surge, marking their first revision in eight years. On Monday, officials announced increases between 30% and 200%, heavily impacting areas within a 10-kilometer radius of the Ram Janmabhoomi Temple.
The revised rates take effect following a proposal submitted last year and approved by District Magistrate Tikaram Funde, with areas experiencing the highest land transaction activities seeing the most notable hikes.
The adjustment, which affects residential, commercial, and agricultural lands differently, aims to enhance transparency in property dealings and curb unaccounted transactions, a common issue in real estate markets.
(With inputs from agencies.)
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