Srinagar, Nov 4, KNT: Official data reveals that since 2019, a total of 631 non-residents have purchased 386 kanals of land in Jammu and Kashmir valued at nearly ₹129 crore.
According to the figures, recently tabled in the Jammu and Kashmir Assembly, most of the non-local buyers are from Ladakh, primarily from Kargil district.
Responding to a query by National Conference MLA Sheikh Ahsan Pardesi, the government led by Chief Minister Omar Abdullah informed the House that 378 non-residents bought 212 kanals in Jammu, while 253 non-residents acquired 173 kanals in the Valley.
“In total, 631 non-local residents purchased 386 kanals of land for ₹129.97 crore,” the government stated.
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The trend began in 2020, when the first non-local buyer purchased one kanal of land for ₹10.06 lakh. Since then, the pace of non-resident land acquisition has gradually increased. In 2021, 57 outsiders bought 24 kanals and 15 marlas, which rose to 158 buyers purchasing 106 kanals in 2025.
A report indicates that around 350 of these buyers are Ladakhis, while smaller numbers came from Haryana, Uttar Pradesh, Maharashtra, Punjab, Jharkhand, Delhi, and Bihar. Only one buyer from West Bengal figures in the government data.
In Kashmir, Delhi-based Luxury Resorts Pvt Ltd has acquired three land parcels measuring 22, 3, and 6 kanals at Srinagar’s outskirts, while another major buyer purchased 15 kanals in the green belt area of Srinagar.
In 2022, the government announced a 50 per cent concession in stamp duty for first-time property buyers, widely seen as an incentive to attract outside investment in real estate. [KNT]
