If you are planning to buy or sell land, a house, or a flat in Uttar Pradesh, the government has now fixed new and updated minimum prices for all such transactions. This revised rate list will be applicable across the entire state. According to the new rules, each floor and specific part of every property will have its own rate, making the registry process cleaner and more transparent. This will directly impact overall property prices.
Plots Facing Parks and Those Surrounded by Two Roads Will Be Costlier
As per the new list, if a property faces a park or is surrounded by two roads, its rate will be 10 to 20 percent higher. Such plots will now be registered at increased prices. The government has also set new rates for agricultural land. From now on, the value of farmland will be determined based on its distance from the road—the closer the field is to the road, the higher its price. These rates will also apply to government properties under UP State Industrial Development Authority (UPSIDC), Noida Authority and Housing Development Authority. If two different rates exist for the same area, the higher one will be considered.
First-Ever Floor-Wise Valuation
The biggest change in building valuation is that in structures up to four floors, each floor will be assessed separately. For example, in a two-storey building, 50% share of the structure will be counted; in a three-storey building, 33.33%; and in a four-storey building, 25%. Buildings with more than four floors will be valued as per apartment rates. New rates have also been introduced for roof registry: 50% of the rate for the roof above the basement, about one-third for the first-floor roof, and one-fifth for roofs above the third floor.
New Rebates for Old Buildings
The government has also set fresh rebate rates for registering old houses. Buildings up to 20 years old will get no rebate.Those between 20 and 50 years old will get a 20% to 50% reduction, meaning their registry value will be comparatively lower.
Government Claims New Rules Will Ensure Clear and Fixed Prices
According to the government, these updated norms will provide clear and standardised prices for both buyers and sellers. This will eliminate confusion and make the registry process simpler and more reliable.
