With the District Collector commending 10 % increase in the area costs in residential class property charge in Noida & Greater Noida is prepared to go higher. New values are to be put into practice from 1st of August.
In the Previous year, housing class registered 10 % & a 17 % increase. Business property has observed 2 % increment (except for sector 18 & 38 (A), which have recorded 17 % increment) while commercial properties circle charges has increased by 10 %. There are total 5 types of Noida housing segments. From 1st of August, in Noida residential property rates will vary from Rupees 35,000 to Rupees 86,000.
Previous year this figure was starting from Rupees 32,000 to Rupees 78,000 per square meters. With no increment, this year break has been delivered to apartment investors. Except for that, in apartments group, property values will be appraised depending facilities offered by the builder in the residential civilization.
On the other hand, registry & stamp department divulged this assessment idealistic & had planned to cancel the evaluation based on the facilities offered by the builders. This circle charge amendment comes after the Noida Development Authority incrementing property values by up to 10 percent last in June, this year.
"In the current year we have not increased circle values of housing apartments. For residential apartment, our circle charge computation is based on 6 specifications, including gymnasium, club, security, power backup, and swimming pool, offered by the builders. Former we used to accusation 25 % in those communities where the builders were offering just two facilities out of 6 but this year we have determined to arraign 5 % on each facility, but the circle charge will not be higher than 25 %. Like a builder offers gymnasium, club & electricity and water backup, then we will just allege 15 % & if a builder is offering all six facilities, then we will arraign 25 %," said by the assistant inspector general, stamp & registration Dept. He also complicated that the Ghaziabad Authority had requested the stamp & the registry Dept. to secure circle values of recently group residential coming up in Chijarsi & Kanawani.
"We have preset Rupees 40,000 as circle value both in Chijarsi and Kanawani," he added. The stamp & registration Dept last year, had planned 17 % & 35 % increment in circle values in all classes together with residential, commercial, industrial and institutional.
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