Ranchi: Buyers Flock to Registry Office Before Price Hike
RANCHI: As of August 1, land and property valuations are set to increase by up to 10%, prompting an extraordinary surge of land buyers at the district registration office on Thursday. Buyers rushed to finalize registrations before the new rates take effect. The government-mandated increase in land valuation, or circle rate, directly affects the baseline price for land transactions. A higher valuation translates to increased registration fees, which are determined as a percentage of this new benchmark. This increase will affect all 53 urban wards and the surrounding mouzas, with more significant rises in sought-after areas such as Hinoo, Harmu,…