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Bad news: You will have to pay double for buying house, shop and land in NCR; here’s the update

New Delhi: Purchasing land or building a house in Noida and Greater Noida, is going to be costlier as the government is set to increase the circle rate up to 100 per cent. However, the new rates will be applicable only in a few sectors. These apart, circle rates in many other sectors will be increased up to 60 per cent.

Property will be expensive near metro route

According to the information, people will have to pay more stamp duty for registries in the sectors along the Aqua Line metro route and expressway running between Noida and Greater Noida. Overall, both flats and land near metro stations and metro lines are going to be expensive.

It is being told that in Noida Sector-15-A, 14-A and Sector-44A and B-Block, the circle rate rates are expected to be increased by up to 100 per cent. Due to the increase in location charges, there will be a huge jump in the circle rates of the property.

Significantly, the exercise to increase the DM circle rate in Noida and Greater Noida has started. The administration has sought objections and suggestions from the people for setting new circle rates. After disposal of this, new circle rates will be fixed. The increase in the circle rate will affect the registry of the property. The people of the city will have to spend more amount in the form of stamp duty. Objections and suggestions have been sought from the people of the city on the circle rate till August 15. The final decision will be taken after their disposal.

Noida International Airport, Film City and other projects are proposed in Gautam Budh Nagar. Due to this, the buying and selling of land, houses, flats has increased here. In such a situation, there is a preparation to give profit to the government by increasing the DM circle rate. It is believed that the rate at which the three authorities have increased their allocation rates will also increase the DM circle rate. ADM Vandita Srivastava said that brainstorming is going on to increase the circle rate. New circles will be decided after August 15.

Objections can be filed up to 16 on increasing the circle rate

At the same time, in Noida and Greater Noida, people will be able to file their objections till August 16 for increasing the circle rate. For this, people will be able to register their objections every working day from 10 am to 4 pm and on the website. The objections will be disposed of on August 18. This information was given by the Assistant Inspector General of Registration (I) Shiv Shankar Pal. Registry in the district is still being done at old prices. The Property Registration Department and the district administration have decided that the circle rates will be increased. Noida, Greater Noida, Yamuna Expressway Industrial Development Authority and Uttar Pradesh State Industrial Development Authority have increased their allocation rates during the last two years, due to which the circle rates are lower than the authority. On the other hand, the circle rates of the administration prevailing in the market are cheap. Therefore, the committee has decided to increase the circle rate.

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