Land prices in Lucknow, the capital of Uttar Pradesh, have started touching the sky. Especially in the areas located on the major roads of the city, land is now being sold prices. The recently released new circle rates has created a stir in the real estate market. In posh areas like Gomtinagar, Shaheed Path and Ayodhya Road, land prices have now reached Rs 70,000 per square meter, which is the highest level ever.
Why increase circle rates?
Revenue department officials say that for a long time there was a big difference between the market price and government circle rate in the real estate market. Private builders and developers were selling assets at high prices, while the circle rate was stuck at the old rates. The government has now implemented new rates with the aim of reducing this gap and increasing revenue.
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Where did the prices rise?
Under the new circle rates, there has been a huge jump in land prices in different areas of the capital.
Gomtinagar and Shaheed Path
Virajkhand and Vibhutkhand- ₹ 70,000 per square meter
Around Sushant Golf City, Medanta Hospital, Lulu Mall- ₹ 50,000- ₹ 52,000 per square meter
Ayodhya road
From Lekhraj Chowki to Ring Road- ₹ 49,500 per square meter
From Metropolitan Gol Market to Nishatganj Bridge- ₹ 53,000 per square meter and Kapurthala
Aliganj Sector L and Kapurthala Square- ₹ 54,000 per square meter
Kisan Path (Outer Ring Road)
Within municipal limits- ₹ 20,000 per square meter
Outside the limit- ₹ 15,000 per square meter
Bakshi’s pond area- ₹ 8,000- ₹ 10,000 per square meter
Purvanchal Expressway
Average rate- ₹ ​​6,000- ₹ 10,000 per square meter
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Rates of other areas
Malihabad- Mohan Road- ₹ 7,000 per square meter
Mall Rahimabad Road- ₹ 3,400 to ₹ 8,200 per square meter
Munshipulia- up to Biryani House- ₹ 49,500 per square meter
Atal Chowk- Behind Lulu Mall- ₹ 50,000 per square meter
Rae Bareli Road (Mohanlalganj, Sarojninagar)- ₹ 18,000- ₹ 40,000 per square meter
Kanpur Road (Junabganj – Bhagu Kheda): ₹ 15,000 per square meter
Vrindavan Yojana – Neelamatha underpass: ₹ 40,000 per square meter
Due to the rapid development and improvement in infrastructure in Lucknow, the demand for land has increased. This is the reason that now the land on the side of every major road of the city has become precious. In such a situation, if you are planning to buy or sell property in Lucknow, then take the next step keeping in mind the new circle rates.
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