Land registration in Bihar is set to become much more expensive as the state prepares to introduce a new circle rate. The government is updating the Market Value Rate (MVR), which decides the minimum value for land registration. Once the new rates start, land registration in Bihar may cost almost three times more.
The revision work is happening quickly. In Patna, land and flats across all 75 wards are being checked. Similar surveys are going on in municipal councils and rural areas. Officials say the new MVR will reflect current market prices, which have increased many times since 2013.
The highest impact will be in municipal corporation areas, where buying and selling activity is high. Circle rates will rise more in localities where market value is already high. This will help the Registration Department increase revenue.
The review is based on four main points:
New market value according to today’s prices
Areas with a large gap between MVR and actual market rate
Land classification based on 2017 rules
A new category for industrial land
The updated circle rate is expected to come into effect by January or February, after ward-wise reports are completed.
