Builders' arbitrary game will end in Lucknow
The decision to change the circle rate in Lucknow, the capital of Uttar Pradesh, will curb the arbitrariness of the builders. This decision of the government will also succeed in preventing the loss of farmers and revenue. This change will also curb the use of black money in the purchase and sale of property.
At present, many big builders were taking advantage of the low circle rate and buying land at cheap prices and selling it at arbitrary prices. Because of this, farmers did not get proper compensation. Not only this, due to this, the government also had to suffer revenue loss.
Builders' arbitrary game
Property prices are skyrocketing under big residential schemes like Ansal, Emar in Lucknow. Many private builders are making huge profits in the sale of flats and houses. However, the circle rate in areas with residential schemes was only Rs 18 thousand per square meter.
Taking advantage of this, the builders were buying land from farmers and selling it at a price several times. Not only the farmers were being exploited in this process, but black money was also being used fiercely.
What will change?
Lucknow district administration has decided to increase the circle rate manifold. With this, the builders will have to pay the farmers properly and according to the market to buy land. This step is not only in the interest of farmers, but will also help in increasing government revenue. Changes in circle rate will bring transparency in the purchase and sale of property and will reduce the use of black money.
Demand for farmer organizations and Congress
For a long time, farmers' organizations were demanding to increase the circle rate. He said that due to low circle rate, his lands were being bought cheaply by the builders, while arbitrary prices were being charged at the time of sale.
On this issue, former Congress District President Ved Prakash Tripathi had submitted a memorandum by demonstrating at the offices of DM, Mandalayukta and Lucknow Development Authority (LDA). He said, due to low circle rate, farmers' lands were being taken at low prices. While institutions like builder and housing development were selling it at expensive prices.
Farmers and government benefits
With the increase in circle rate, now farmers will get the right price for their land. Also, the government will get more revenue through stamp duty and registration. This step will prove to be effective in bringing transparency in the property market and curbing the arbitrariness of the builders.
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