Sitabuldi has become the costliest area in Nagpur, according to the latest Ready Reckoner rates the government’s land valuation. Its land prices are now as high as those in premium localities like Ramdaspeth, Dhantoli, and Laxmi Nagar.
People looking to buy property in these areas will now have to pay much more. Even suburbs like Besa, Jamtha, and Isasani have seen a sharp rise in prices. Surprisingly, places like Dabha and Shankarpur now have land rates close to or even higher than older areas like Sadar.
The state government had kept Ready Reckoner rates unchanged for five years after 2017, with the last update in 2022. Now, after three years, the rates were increased again on March 31 and came into effect from April 1. These new rates will now be used to calculate stamp duty for property registrations.
Within city limits, land prices have gone up by 4.23% under the new rates.