Bihar’s Land Prices Surge: One Kattha Now Costs Up to Rs 5 Crore, Outpacing Gold Value

Bihar is set to see a big change in land prices, making buying land as expensive as buying gold. The new rates will see land prices in both cities and villages soaring. For example, a plot of one Kattha could cost up to Rs 5 crore! The government has already decided to raise the Minimum Value Rate (MVR) for land, particularly around Patna, by three to four times.

With these new rates, the government’s income from land registration is expected to rise significantly. In urban Patna, the proposed increase is three times, while in the surrounding rural areas, it could be as much as four times. A report from the District Evaluation Committee has been sent to the government for approval, and once reviewed, the new rates will be put into effect.

The changes will make purchasing land a costly affair. For instance, if you want to buy land on Fraser Road, it could cost around Rs 5 crore for one kattha. In Danapur, you will need about Rs 2 crore, while Kankarbagh could see prices of at least Rs 3 crore for one kattha. Even agricultural land prices in Bihta will go up, reaching between Rs 70,000 and Rs 80,000 per kattha.

Along with the rise in land prices, stamp duty will also increase during registration. For example, buying land worth Rs 3 crore will require a stamp duty of about Rs 30 lakh, and for Rs 5 crore, it could go up to Rs 50 lakh. Currently, the circle rate in places like Fraser Road is around Rs 1.5 crore, but market rates are hitting Rs 5 crore. If the government aligns these rates, land could even cost between Rs 8 to 10 crore.

The new rates will soon impact everyone looking to buy or sell land in Bihar. People should be prepared for these changes, as they will make land transactions significantly more expensive. The registration department will implement the new rates after thorough review, affecting many buyers and sellers in the coming days.