LUCKNOW: Property rates in Lucknow may rise from August. The district administration has started the process of revision of the DM circle rate last fixed in 2015-16. Final decision will be taken after a survey to be launched next month.
The 'DM circle rate' of a commercial or residential area is fixed by the district magistrate on the basis of the demand of the property in that particular area. The demand is ascertained on the basis of the survey carried out by the district administration in different parts of the district.
According to district administration, the last revision of the DM circle rate was done in 2015-16. Thereafter, the revision was delayed due to ongoing development projects like outer ring road and Purvanchal Expressway. The projects were delayed due to problem in land acquisition. The issues, they said, have now been resolved.
In the month-long survey, lekhpals will check the status of demand of property in commercial and residential areas. They will also area wise facilities and requirement of the people.
According to district magistrate
Kaushal Raj Sharma, there are more chances to increase the circle rate and the percentage hike will be decided by committee members, including all magistrates, tehsildars, stamp and revenue department officials and other related officials. The change, if takes place after August, will come into effect across the district.
Representative image