Residential and commercial plots, village land and covered parking space in Noida, Greater Noida and Yamuna Expressway will be expensive from now on. The Stamp and Registry Department of Gautam Budh Nagar has increased the circle rates of industrial up to 30 per cent and 15-17 per cent of residential ones. This hike will be applicable from August 1.
The three authorities of the district increased the allotment rates by up to 30 per cent in May, this year. As a result the circle rates were also increased.
A senior official said that it was a practice to announce five per cent increase in circle rates every year, but this time they changed the pattern and have divided the entire area into five categories — A, B, C, D and E for residential, commercial and industrial lands.
Colonies falling in different categories have separate circle rates. "In Noida, we have included Sectors 14, 14A, 15A, 17, 30, 35, 36, 39, 44, 50, 51 and 52 in 'A' category of residential areas and have increased the circle rate from Rs 65,000 to Rs 78, 000 per sq m. The rate in 'B' category has been increased from Rs 48,000 to Rs 55,000. The department has included total 36 sectors in this group. Circle rate in all 35 sectors of 'C' has been hiked from Rs 35, 000 to Rs 40,000, while the hike in 'D' and 'E' sectors is only Rs 3,000 and Rs 2,500 per sq m respectively," he said.
For commercial plots, the Stamp and Registry Department has announced an increase between 15 to 20 per cent depending on the developed and semi-developed areas. The hike in Industrial plots has been announced between 28 to 30 per cent in the entire district, while the increase in village land is between five to 10 per cent. The rate of covered parking in residential areas has been doubled. The pattern is the same in Greater Noida.
"As our proposal to increase the circle rates in all categories except institutional land has been cleared by the district administration, we have announced the revised rates from next month. Earlier, we were enhancing circle rates by five per cent in all categories, but this time we have categorised the areas as per their development," said Sushil Kumar Singh, Assistant Inspector General (AIG) of Stamp and Registry Department.
It may be noted that the allotment rates for group housing and institutional properties have been increased up to 15 per cent.
Commercial plots and industrial land allotment rates have been increased by 30 per cent and 11.25 percent respectively in Noida. The Greater Noida Authority hiked allotment rates for land across all categories, except industrial, uniformly by 8.53 per cent. Meanwhile, the Yamuna Expressway Authority increased its allotment rates up to 15 per cent.