Property prices in Kanpur set to rise as circle rates increase after 9 years

Residential land rates have increased by 10 to 15%

Published on:

03 Sep 2024, 11:55 am

1 min read

The Kanpur District Administration has now revised the circle rates for land, shops, and residential properties, with an increase ranging from 7 to 20 per cent. The new rates have come into effect from Monday, following DM Rakesh Singh's approval of the proposal on Sunday night.

Reportedly, this adjustment comes after nearly nine years of stagnant circle rates in Kanpur. While several proposals had been drafted over the years, they were shelved until now.

Property rates now highest in areas like Civil Lines, Saket Nagar

According to the revised structure, circle rates for commercial land in Kanpur have seen a hike of 15 to 20 per cent, while residential land rates have increased by 10 to 15 per cent. Agricultural land has witnessed a relatively modest rise, ranging from 7 to 10 per cent.

Areas like Civil Lines, Swaroop Nagar, and Saket Nagar now have the highest land prices in the city.

Circle Rate

Circle rates, also known as ready reckoner rates, are the minimum property values set by the government for registration purposes. These rates ensure that properties cannot be registered below a certain price in official records. Stamp duty and registration charges for property transactions are calculated based on the circle rates specific to the area where the property is located.

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Kanpur property rates

Kanpur DM Rakesh Singh

Kanpur Circle rate