New Delhi. With a massive 15 percent increase in circle rates, buying a house in Ghaziabad has now become very expensive. With this new rule implemented from Wednesday, the circle rates of land have more than doubled, especially in areas like Wave City and Aditya World City.
Property circle rates have also increased tremendously in major areas like Indirapuram, Kaushambi and Vaishali. The rates of commercial properties and agricultural land have also increased drastically. Circle rates have been increased after a gap of two years.
Pushpendra Kumar, AIG Stamp and Registration Department, says that in the last two years, the city has seen an infrastructure transformation in terms of connectivity. The Rapid Rail has started operating and is in expansion mode. The city already has metro connectivity and DME and expressways like the Delhi-Dehradun Expressway and others are also coming up. All this has increased the market rates of properties. To take advantage of the rising market, the circle rate has been increased.
What is the rate where?
The circle rate for residential plots in Wave City and Aditya World City along NH-9 has been increased from Rs 17,300 per sq metre to Rs 35,000 per sq metre. The revised circle rate in Indirapuram is Rs 95,000 per sq metre, which was Rs 58,000 per sq metre earlier. In Kaushambi the revised rate will be Rs 1.03 lakh per sq metre, which was Rs 64,000 per sq metre earlier, while in Vaishali Township it has been increased from Rs 58,000 per sq metre to Rs 97,000 per sq metre.
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The circle rate in Vasundhara, which was earlier Rs 52,000 per sq m, has now been reduced to Rs 28,000 per sq m. The circle rate for commercial properties has been increased from Rs 1.08 lakh/sq m to Rs 1.15 lakh/sq m, while the rate for agricultural land has been increased by 10% across the district.
The new circle rate for commercial properties in Indirapuram and Vaishali townships will be Rs 1.15 lakh per sq m, up from Rs 1.08 lakh per sq m earlier. In Ambedkar Nagar, the new rate is Rs 1.50 lakh per sq m, up from Rs 1.38 lakh per sq m earlier. The revised rate in Noornagar village has gone up to Rs 21.7 crore per hectare.
The Stamp and Registration Department expects to get Rs 125 crore more revenue in the current financial year.
The revised circle rate will fetch the government Rs 125 crore more revenue. In the last financial year, the state government had set a target of Rs 3,104 crore for Ghaziabad. 96% of the target was achieved.
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