Shock in Jharkhand: In Dhanbad, from August 1, 10 percent will increase property rate house land, be careful

News India Live, Digital Desk: Shock in Jharkhand: There is an important news for property owners and investors in Dhanbad district of Jharkhand. Property rates in Dhanbad are going to increase by 10 percent from August 1. This increase will be at the circle rate (government rate), which will directly affect the purchase and selling property in the district. This decision has been taken at a time when the real estate market is gradually improving, but its burden is likely to fall directly on the common people and new buyers. What is the circle rate and its impact: Circle rate is the minimum price on which registration of a property or transaction in government documents. The government decides this rate so that any land or property transactions cannot be done at a lower price and can get proper revenue. When the circle rate increases, the cost, stamp duty and registration fee of the property of the property also increase in the same proportion, which makes the purchase of property expensive overall. The cause and impact of the rise: This increase in Dhanbad can be due to various reasons, including the development of the area, improvement in inflation and market rates. These rates are reviewed by the local administration after every time. This 10 percent increase: burden on buyers: Those who are thinking of buying a new house or land in Dhanbad will now have to pay more money. This can first increase the difficulties for home buyers. Increase in government revenue: This increase will bring more revenue to the state government treasury, which can be used in development projects. Real Estate Market: Although it can bring some profit for developers (due to increased property price perception), but in the initial phase, even in the initial phase, there may Invest in real estate, they can see it as an increase in the value of their investment, but the cost for new investment will also increase. This increase will not only affect residential properties, but also on commercial and industrial properties. Therefore, people who plan to buy property in Dhanbad are advised to consider completing their transactions before August 1, so that they can avoid the burden of increased rates. With this decision, a new attitude can be seen in the coming time in the property market of Dhanbad.