RANCHI | JAMSHEDPUR: Starting August 1, the cost of purchasing a dream home in the state—including Ranchi and non-Tata command areas of Jamshedpur—will see an increase due to a revision in real estate prices. This adjustment will lead to approximately a 10% hike in the prices of both residential and commercial properties in Steel City. Notably, the new rates will not apply to Tata sub-lease land in Jamshedpur.
According to officials from the registration department, the last revision occurred in 2023.
Ranchi district sub-registrar Vaibhav Mani Tripathi remarked, “The rates for residential and commercial properties in Ranchi’s urban areas—including 53 municipal wards under the Ranchi Municipal Corporation (RMC) and 13 wards of Bundu Nagar Panchayat—have been adjusted as part of the regular two-year review process.”
Tripathi added, “These new rates, which are applicable to both residential and commercial properties, are anticipated to elevate the circle rates for land, flats, and various types of commercial and non-commercial structures.” For example, the revised price for residential land in RMC ward 1 will now be Rs 4,95,641 per decimal, up from Rs 4,50,583 until July 31. The commercial land price in the same area will change to Rs 9,91,282 per decimal from the previous rate of Rs 9,01,166 per decimal.
In Jamshedpur’s Sonari area, the price per square foot for flats will rise to Rs 6,061 from Rs 5,510 before July 31. For residential land in Sonari, the new rate will be Rs 11,57,064 for one decimal, compared to Rs 10,51,876 previously. In Ulyan, residential land prices will now be Rs 8,40,716 per decimal, an increase from Rs 7,64,287.
The land department has indicated that prices for flats will also increase next month in the Mango area, with the new rate set at Rs 4,539 per square foot, representing a rise of approximately Rs 416 per square foot from the earlier price.
Under the Jugsalai civic body, the revised price for flats will be Rs 4,743, which is nearly a 10% increase from previous rates.
Praful Kumar, a land department official in East Singhbhum district, noted, “The government revises land rates in urban and rural areas every two years as part of routine operations. The rates for rural land will be updated in 2026.” Realtor Avinash commented, “Given the new rates, the average cost of a 2 BHK flat with around 1,000 square feet will increase by Rs 4,13,000 for city buyers, not including the proportional increase in registration costs and GST.”
