Noida Circle Rate: Noida- The proposal to increase the circle rate in Greater Noida is becoming a noose for the administration. The creation of a new category of property has created panic in the entire area. From the real estate industry to home buyers, there is a fear that this new proposal will make registering a property very expensive. This can put a discount on the already dilapidated condition of real estate.
Estimated to increase the cost of registry by 88 percent- Local people say that due to the proposal to increase the circle rate and change the category of many sectors, the cost of registration of houses and land is expected to increase by about 88 percent. Due to this, the Noida Federation of Apartment Owners Association has strongly opposed the proposal to increase the circle rate in the district. The Federation says that the situation is very bad after the Corona epidemic. Therefore, the district administration should think about the residents of the city.
This reaction received in the real estate market – The Home Buyers Association also says that the real estate market is already submerged, in that the proposal of the district administration to increase the circle rate is not correct from anywhere. Where financial relief should be given to the citizens who are facing the double whammy of Corona and inflation, the increase in circle rate will increase unnecessary financial burden on them. There are many such housing projects in the city, in which builders are not giving possession in time. In such a situation, it is not known when the home buyers will get their house, but due to the increase in the circle rate, their difficulty will definitely increase.
Let us inform that the Gautam Budh Nagar district administration has issued a new proposed list of circle rate of lands. In this proposed list, by changing the category of many sectors, the circle rate has been increased from five to 20 percent. In the new list, location charges have been proposed on land near metro, green belt and expressway. Location charges up to 12.5 per cent may have to be paid for different lands.