Uttarakhand: Nainital Mall Road Becomes Costliest in Kumaon as Circle Rates Rise up to 50%

Nainital: Buying land in Uttarakhand has become significantly more expensive following the implementation of new circle rates across the state. While most regions have witnessed an average increase of up to 22%, Nainital has seen the sharpest surge, with circle rates soaring by as much as 50%. The town’s iconic Mall Road has now become the most expensive location in the Kumaon region.

The new circle rates, enforced from Sunday, have raised land and property prices substantially. On Nainital’s Mall Road, the rate for plots between the Boat Stand and SBI has jumped from ₹1,00,000 to ₹1,50,000 per square meter, while flat rates have risen from ₹1,12,000 to ₹1,64,000 per square meter.

In Haldwani, the Nainital Road continues to command the highest property value, with rates near Mangal Padav increasing from ₹50,000 to ₹75,000 within 50 meters, and from ₹36,000 to ₹40,000 per square meter between 50–200 meters. Areas uphill from the tehsil have seen rates rise from ₹29,000 to ₹1,00,000 and from ₹20,000 to ₹26,000, respectively. In Udham Singh Nagar, land values have climbed by 22% to 25%.

According to Bhim Singh Bisht, In-charge Sub-Registrar, Nainital, the Mall Road and its adjoining areas have recorded a 50% hike in circle rates, while properties with lake or Himalayan valley views have seen a 40% rise. Beyond 200 meters from the lake, rates have generally increased by 20%.

Revised Circle Rates in Nainital (₹ per sq. meter)