Before the inauguration of the Ram Temple, the local administration had proposed to increase the circle rate in 2022, but the matter was later put on hold. A senior administrative official said that over the last one year, we have observed that in many cases, the per square metre rates of properties quoted by buyers while signing sale deeds have been higher than the rates of collectors. It is important to increase the circle rate proportionally to provide more revenue to the state exchequer.
Interested parties have 10 days to submit objections and suggestions.
The proposed rates will be finalised by August 31. Residents and stakeholders will be given at least 10 days to submit their objections and suggestions on the issue. Ayodhya Divisional Commissioner Gaurav Dayal said that the final decision on this matter will be taken only after considering the suggestions and resolving the objections. The proposed rate list reflects the market sentiments.
Stamp duty is calculated according to circular rates.
It is noteworthy that the circle or collection rates, fixed by the state government, are used as a benchmark to determine the value of a property. Even if the price mentioned in the sale deed is lower, the sub-registrar belonging to the Stamp and Registration Department calculates the stamp duty as per the prevailing circle rates.
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