Property Land Rates in Jammu & Kashmir 2024 (New, Latest,Updated)

Watch out updated Property / plot / land rates in jammu & Kashmir. If You want to buy or sale plot/ flats/ kanal/ shops/ showrooms here’s the complete list of all locations.

The revocation of Article 35A, which debarred non-residents from buying property in the state, may open the doors for outsiders to invest in immovable property within the union territory.

Article 370 revoked: How it will affect the J&K’s property rates

The depressed property prices in Jammu and Kashmir will shoot up by up to 50 per cent because of the opening up of the realty market after the government’s decision to revoke Article 370.

In Srinagar’s prime Pantha Chowk area, houses can be bought for as low as Rs 2,300 per sq ft. Besides local markets, the place has a stadium and a Kendriya Vidyalaya, but property prices are among the lowest in India, even lower than in the outskirts of most tier 2 cities.

In Pacci Dhaki area of Jammu too, near Mubarak Mandi Palace, prices are equally low at Rs 40 lakh for a 6 marla (1,634 sq ft) independent house. Proximity to historical places and market areas has not helped improve property prices in Jammu and Kashmir where people from outside the state cannot buy land or property. A house at such a location in a non-metro capital city would easily cost upwards of Rs 60 lakh, while in a metro like Delhi or Mumbai it could cost in tens of crores.

Annexure “A” to Circular No: 328. Dated: 01-10-2018

Statement showing plinth area rates to be adopted for valuation of structures/ assessment of rent for various structures in Kashmir Province with effect from 01-10-2018.

For attic floor, an allowance equal to 30% of the difference of rates assessed for the floor comprising Attic and the floor immediately under it may be allowed. However Attic floor over the 5^th storeyed shall not be accounted for.

Explanation for valuation of Attic (For example 3 storeyed with Attic) 30% of (Assessment of Attic as 4^th floor minus assessment of 3^rd floor).

The Allowance for services is approved as under:

1. Sanitary Fittings @ Rs.170 lacs/points (One Sanitary point shall mean one W.C with flushing system, one wash basin with mirror, one bath / shower point, water storage tank, water supply system and disposal system including septic tank and soakage pit).
2. Extra Water point @ Rs.10000/points which shall include Steel sink, 01 bib cock, 01 stop cock, 01 gully chamber & necessary fittings.