Lucknow, 01 Aug

(HS): Lucknow's property prices are expected to jump by much to 25% due to

updated circular rates, the first modification in a decade. Different geographies and property kinds will

experience varied rises, with agricultural land up by 15% and dwelling up by

20-25%. Significant increases have been

reported in key places. Lucknow's

housing prices are expected to rise by much to 25% starting Friday. This adjustment comes after the

implementation of new circle rates, which establish the minimum cost of a

property for computing stamp duty. The

most recent modification is the first in ten years. According to Assistant Inspector General of

Stamps Ramesh Chand, it brings a 15-25 percent premium depending on the

property acreage and kind.

Agricultural land

rates have grown by 15%, while non-agricultural land rates have climbed by

20-25%. Chand noted that the

modification takes into account the areas potential and corresponds to prior

percentage gains in 2015. The prices are

classified according to position along roadways and associated amenities,

influencing both 'ordinary' and 'premium' categories and having a substantial

influence on real estate industries in regions such as Ashok Marg and Indiranagar.

Hindusthan Samachar / Abhishek Awasthi