Jammu and Kashmir Property Rates After End of 370

Jammu and Kashmir Property Rates After End of 370

Jammu and Kashmir Property Rates After End of 370
Jammu and Kashmir Property Rates After End of 370
Jammu and Kashmir Property Rates After End of 370

Jammu and Kashmir is in constant discussions after the end of Article 370, and various types of political news remain in the spotlight. Meanwhile, know what is the mathematics of real estate in Kashmir. According to real estate experts, the demand for residential property in Srinagar has increased a lot in the last few years. People are particularly interested in houses, plots, villas, farm houses, commercial shops. It is being said that there are options for property for every category of buyers in Srinagar.

Jammu and Kashmir Property Rates After End of 370

The property and its prices are being discussed on social media as a humor on the latest political developments. The reason behind this discussion is that after the end of special state status of Kashmir, people of other states will also be able to take property here. However, the journey for this is long because many legal processes are still left. But in the meantime know what is the capital of Kashmir and what is the price of land in Srinagar along with what is called Dream City in some other areas.

Currently, this is how property prices are

A circular has been issued for the market value of the urban plot for 2019-20 on the portal of Srinagar district administration. According to this circular, market value has been given in various parts of Srinagar district for various types of properties. For instance, in Shalimar of North Tehsil of Srgner, prices are something like this. The market value of the residential plot here is Rs 52.50 lakh per canal while for commercial it is Rs 97 lakh per canal. Similarly, the market value for rural plots in Uttar Tehsil is Rs 15.75 lakh per kanal for residential and Rs 17.85 lakh per kanal for commercial in Saidpura.

Property prices in Anantnag
Similarly, every district administration of Jammu and Kashmir has a separate portal, where such circulars have been issued. There is market value circular of urban plot for 2018-19 in Anantnag, in which prices are shown according to different colonies. For instance, the market value of Residential Plot at Pahalgam Lower Front side under Pahalgam Municipality is 81.20 lakh per canal, while 92 lakh per canal of commercial is available.

Prices like this in Jammu
Similarly, Jammu sub division is on a circular portal regarding land rates in rural areas in Akhnoor. According to this, the market value of a residential plot in the rural areas of Akhnoor Khas is up to Rs 24.71 lakh per kanal and up to Rs 36.85 lakh per kanal of the commercial. To know the prices of the districts of the state of Jammu and Kashmir in detail, you can see the circulars loaded on the portal of the respective district administration.

Prices have increased compared to last year
In this circular, it has been told district-wise how much the prices of the land have changed compared to the previous year or years. It has been said that the District Valuation Committee of Srinagar found that there has been an increase of up to 5% in the prices of land this year compared to the previous year 2018-19. After the dialogue and consideration of the report of this enlargement, the board has proposed a new proposal. At the same time, the prices of land in Kupwara have increased by 7% compared to last year and 6% in Pulwama and Anantnag.

Now consider the unit of canal
Canal and Marla units are used to measure the land in some states, including Jammu and Kashmir. By converting the kanal at your convenience, you can understand that 1 kanal is equal to 510 sqm i.e. 1 by 8 acres. 1 canal is equal to 5400 square feet and 605 square yards. At the same time, 1 canal consists of 20 marlas. Accordingly, the market value of the residential plot in Shalimar, Srinagar mentioned earlier is Rs 52.50 lakhs per 5400 sq ft. That is, the residential plot of 1000 sq ft is about 9 lakh 73 thousand rupees here.