What’s inside:
This article talks about the big rise in land prices in Patna, Bihar, making it hard for the middle class to buy land.
In Bihar, buying land is becoming really tough, especially for middle-class families. If you live in any district and are dreaming of owning a house in Patna, it might just be a distant dream now. The government is planning to increase land prices a lot, making it harder for many to afford land.
The proposed changes suggest that land prices could go up by four times. Areas along Atal Path, Gola Road, and Canal Road might see the biggest hike. The plan also includes raising prices for land near major commercial roads by a whopping 410 percent, as it reflects the market value.
This increase will affect different areas differently. For instance, land near commercial main roads could rise by 380 percent, while secondary roads may see a 350 percent jump. Residential main roads might go up by 265 percent. The final decision will be made after reviewing proposals from all districts.
The current circle rates for land have not changed in about nine years. With a 10 percent registration fee based on these rates, the state expects to earn a lot more revenue once the new rates are set.
Major roads like Rajabazar, Khajpura, and Meethapur could see rate hikes up to 400 percent. If these proposals go through, it will be the most significant increase in land prices in Patna’s history, affecting many potential buyers.
Summary:
- Buying land in Patna is becoming very difficult for the middle class.
- Land prices may increase by four times in certain areas.
- Different locations will see varying percentage hikes.
- The current land rates have not changed for nine years.
- This could lead to a significant rise in state revenue.
