Real Estate Rates May Rise by 10 per Cent in Noida, Greater Noida :
As the district administration has already approved 10 per cent hike in circle rates as far as the residential property category is concerned, as a result the property rates in Noida and Greater Noida are set to soar high.
This is in line with the hike that is happening in the past as it may be recalled that last year, the residential category registered about 10 per cent hike in the same region.
As far as Noida’s residential property segment is concerned, there are five different categories of Noida residential sectors and with this revision of circle rates, residential sectors’ rates in Noida will range from Rs 35,000 to Rs 86,000 per square meter. Last year this figure was from Rs 32,000 to Rs 78,000 per square meter.
On the other hand, looking from the end customer’s stand point, the stamp and registry department has admitted this evaluation unrealistic and had proposed to revoke the price evaluation based on the services provided by various developers.
As far as last year rates are concerned, the stamp and registration department, had proposed 17 to 35 per cent hike in circle rates in all categories including residential, institutional, industrial and commercial set of property.
The department of stamp and registry’s move of proposing to not hiking rates in residential flats category and charging rates on the base of various services provided in the residential society is definitely directed towards creating better conditions for the home buyers and deliver them the right value for their money spent.