If you are also planning to buy a Noida house, then this news can prove to be your work. Actually, now buying a house in Noida can be more expensive. The price of flats in Noida is in crores, which is going to grow again. The district administration is going to increase the circle rate for the first time in 9 years this week. Earlier this year, the administration proposed adequate increase in various property categories.
Noida-Greater Noida will increase so much rate
The maximum prices of Noida and Greater Noida will increase. Greater Noida and Greater Noida West included a 30% increase for flats, while Noida’s condominium is facing a 20% increase. According to officials, the decision was taken after several deliberations with the stakeholders. Feedback received from residents was also considered. Homebukes, who presented most of the objections, urged the administration to maintain the current rates for current registration, citing financial stress.
Shock will be found after 2 days
According to the information, the district administration had prepared the draft of the circle rate of increased rates last month. Objections were sought on this till 5 April. Now the District Magistrate had instructed the forest department and other departments to do some more study on the draft of the circle rate. Some of these departments have given the report to the district administration, which is left, it is expected to meet today or tomorrow, after which the circle rates will be increased.
The price will increase so much
The circle rate of most of the areas of highrise societies is 4 to 6 thousand. Now it is likely to increase by 20 percent directly. Apart from this, in the name of location charge in societies coming in the 500 meter area of the metro line, 5 to 12.5 percent extra circle rate is expected to increase.
Since when will new prices be implemented
According to officials, the new rates increased after nine -year gap are likely to be implemented from April 20. Officials have increased rates in all land categories including residential, commercial, industrial, IT and agricultural assets. This increase is from 15% to 70% based on location and land use. Officials said that keeping in mind the rising property prices and for the development projects, the farmers whose land is being acquired, the circle rates were required to ensure more compensation.