No hike in circle rates announced for Noida, Gr Noida


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The district administration has decided to not to make any hike in circle rates for properties in all areas under Noida, Greater Noida and Yamuna Expressway authorities for the current fiscal year, 2018-19. Moreover, the administration has decided to reduce the surcharge on lifts and power back-up for group housing projects in the twin cities. The decision would reduce the fees by 9 percent.

Brijesh Narayan Singh, District Magistrate, Gautam Buddha Nagar, has stated that the final decision will be taken after considering all suggestions received. The proposal has been up to get feedback and suggestions. The stamp duty has been rebated from 15 percent to 6 percent for the current financial year.

Till now, homebuyers are required to pay 3 percent each as a surcharge for power backup, lifts, community centre/club, swimming pool and gym, accumulating to 15 percent. No charges would be applicable for power backup and lifts, adds Singh.

For community centres, swimming pool and gym, the Administration has decided to reduce the surcharges to 2 percent each. In simple terms, six percent surcharge will be applicable if all five amenities are offered by the developer. 

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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