Circle rates go up by 5-10% in Noida from today

Commencing Friday, circle rates in Gautam Budh Nagar go up by 5-10% across various categories. As a consequence, registration of property has become costlier in the district. The enhancement, however, is not uniform across categories or areas.

While Sector 15A and Sector 44 in Noida have become the costliest, the district administration has given some relief to flat and shop buyers. The circle rate is now Rs 90,500/square metre as compared to the earlier rate of Rs 86,000/sq m for 'category A' property.

According to officials, in Greater Noida, the residential property in Jaypee Greens (Rs 35,000/sq m to Rs 47,000/sq m) and the commercial property in the Alpha commercial belt have witnessed the highest increase. The agricultural land has seen a hike of an average rate of 10%.

Multi-storeyed and group housing buildings in Noida and Greater Noida have witnessed a rapid growth in the region. The builders have been extracting a huge amount from homebuyers on account of facilities such as lifts, swimming pool, security, etc. Now, the fee on charges for such facilities in Noida has been reduced from 25% to 15%. In Greater Noida it has been reduced from 12% to 10%, officials said.

Highrise buildings in both areas have also been given graded relief based on the height. Earlier this relief was available at the rate of 5% for floors starting from the third floor and above, going up to a maximum of 20%.

This relief has now been reduced from 5% to 2% and is now applicable to floors starting from the fifth and above, while the maximum relief remains 20%.

There has been no increase in the circle rates for industrial plots measuring up to 4,000 sq m. For plots above 4,000 sq m, the allotment rate and the lease rent would be added to arrive at the circle rate. But if the prevalent circle rate is higher, then that would be applicable, district officials said.

The developed sectors in Greater Noida, such as Alpha, Beta, Deltam and Gamma have seen an increase of Rs 1,000 per square metre. The undeveloped sectors have been left untouched.

The stamp duty is directly proportional to the circle rate of property.

Source: TOI