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Buying property in Noida and Greater Noida will be expensive, preparing to increase circle rate by 20 percent

Buying property in Noida and Greater Noida will be expensive, preparing to increase circle rate by 20 percent

The meeting chaired by DM Suhas LY agreed to increase the circle rate

Patrika News Network
Noida. More than 20 percent circle rate can be increased in Gautam Budh Nagar. A meeting of ADM, AIG and all the sub-registrars was held under the chairmanship of DM Suhas LY to increase the circle rate. In the meeting, it was agreed to increase the circle rate. Now objections will be sought from people regarding increasing the circle rate from Monday. After resolving the objections, new circle rates will be implemented from around August 15.

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If you are dreaming of setting up your home in Noida and Greater Noida, then this dream can prove to be costly for you, as the circle rate in Noida and Greater Noida has been proposed to be increased by 20 percent. Objections have been sought from the people on this proposal from Monday, after disposal of which the increased circle rates can be implemented from August 15. It is to be known that two years ago in Noida, the allocation rate was increased from 5 to 7 percent in the sectors situated along the Noida- Greater Noida Expressway metro line. Whereas this year the allocation in industrial sectors has been increased. In the allocation of all types of properties, including residential in Greater Noida and Yamuna Express, there has been an increase in the circle rate only last month. In such a situation, circle rates can be increased up to 20 percent in these places. Whereas by increasing the circle rate of all such properties in Noida, the circle rates of those sectors will increase, where the authority has increased the allocation rates.

circle rate calculation

Explain that the total value of the property in Noida is calculated on the basis of the circle rate of the sector. Circle rate is the price of the land fixed by the District Magistrate. For example, if you are taking a residential plot of 100 sqm and the circle rate here is Rs 50,000 per sqm, then the total value of your property will be estimated at Rs 50 lakh. For its registry, you will have to pay 5 percent stamp duty of the total rate. That is, you will have to pay Rs 2.5 lakh as stamp duty.

different rate of authorization

At the same time, the land rate is fixed separately by the Noida Authority. It is possible that if the Noida Authority sells you land at the rate of 40 thousand rupees per square meter, then you will have to pay 40 lakh rupees to the authority for this. Despite this, you will have to pay stamp duty only on the basis of circle rate for the registry. That is, 2.5 lakh rupees will have to be paid. If the rate of the authority is more than the circle rate, then stamp duty of 5 percent of the rate of the authority is levied.

Officials say that the proposed list of circle rates for objections will be released on Monday. He also said that in the objections from the people, if the demand is right, then the circuit rates can also be reduced at the respective places.

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