Advertisement
Lucknow's property market has seen a rise in official property valuations after the administration revised circle rates for the first time in nearly a decade. Residential land prices have increased by 20-25 % and agricultural land by about 15 %. Localities such as Gomtinagar, Mahanagar and Indiranagar recorded the sharpest hikes. Premium locations now have updated rates in line with current market conditions. The revision also introduces QR code transparency and a cap on stamp duty for family transfers.
Property prices across Lucknow moved up after the district administration revised circle rates earlier this week. The hike, coming after nearly nine years, applies to all categories of residential, commercial, and agricultural plots. Residential land rates have gone up by around 20-25 %, while agricultural plots have seen a rise of nearly 15 %. Advertisement
The update has brought significant changes in several areas. Indiranagar, Gomtinagar, Mahanagar and parts of the central zone have seen the sharpest hikes, ranging between 29-31 %. In Gomtinagar's Viraj Khand and Vibhuti Khand, circle rates have gone up to INR 77,000 per sq m. In areas like Ashok Marg, premium plots are now valued at INR 32,500 per sq m compared to INR 26,000 earlier. Regular plots in the same area are priced at INR 30,000 per sq m, up from INR 24,000.
Circle rates have also been revised for 26 planned colonies including Vrindavan Yojna, Omaxe Metro City, Eldeco Shaurya, Ansal API and Emaar projects. In these zones, new rates now range between INR 7,000 to INR 50,000 per sq m depending on the locality and amenities. The revision accounts for facilities like internal roads, boundary walls, clubhouses, swimming pools and security, which have influenced the categorisation into ordinary and premium plots.
Non-agricultural plots located on roads less than 9 m wide have seen a 10 % hike. Small adjustments have also been made in villages such as Sisendi, Belwa and Haibatmau, to bring consistency in pricing across different zones.
To improve transparency, a QR code system has been introduced for property buyers and sellers to verify updated rates. A provision has also been made to limit stamp duty to INR 5,000 for property transfers between close relatives, easing the process for intra-family transactions.
The move brings circle rates closer to prevailing market values, especially in areas like Ansal and Emaar, where the older rates had remained much lower than actual transaction levels.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
