Residential rates rise in Ghaziabad
The high demand for residential, industrial and commercial plots has increased the circle rates in Ghaziabad
After Noida and Greater Noida, it is now the Ghaziabad’s turn to see a rise in land rates meant for residential purposes. New circle rates have been proposed to bridge the gap between real estate prices and existing sector rates. M P Singh, deputy commissioner (stamp), says, "after receiving the objections , district administration will revise the new circle rates. They are likely to be effective from June 16th. According to proposed circle rates, near NH-24, circle rates have been hiked from 80 lakh to 1 crore per acre in Mehrauli village." The new rates have been hiked on basis of distance covered from National Highway.
Interestingly more than the
residential colonies, there is a likelihood of a steep increase in the residential land circle rates. In Ramprastha, Surya Nagar, Chandra Nagar, Vaishali, Kaushambi, Indirapuram, Vasundhara, Kavonagar, Rajnagar, Nehru Nagar, Brijvihar, Lohia Nagar, Patel Nagar and Rajendra Nagar the new circle rates have been hiked between 20% and 58%. The existing circle rates of residential plots range from Rs 12,000 to Rs 25,000 per sq mtr.
The new rates will be Rs 15,000 to Rs 32,000 per sq mt. For commercial plots, the circle rates have been hiked from Rs 20,000 sq mt to Rs 80,000 per sq mt. The new circle rates have been revised on the basis of total number of registrations of documentation in last 2-3 years. C o m m e n t i n g on the new circle rates, S K Divedi, vice chairman, G h a z i a b a d D e v e l o p m e n t Authority, said right implementation of new circle rates are more important to value the price index and area development.
Getting buyers to take a look at property is the biggest challenge in selling a property. For this reason, a little time and money is needed in
making out a solid proof in getting property registration. With over 18 lakhs in population, Ghaziabad is emerging as a popular destination. It is already being looked upon as an alternative to Delhi. Kramchandani, vice president, Parsvnath Developers, says: Commonwealth Games brings a lot of hope for fast development.
FOCAL POINT
More and more people are postponing purchases and settling for rented accommodation hence the increase in rentals. However, real estate agents say they haven't noticed any sudden spurt in the demand for rented accommodation The demand for housing in the next two quarters will be the key factor that decides the prices
After Noida and Greater Noida, it is now the Ghaziabad’s turn to see a rise in land rates meant for residential purposes. New circle rates have been proposed to bridge the gap between real estate prices and existing sector rates. M P Singh, deputy commissioner (stamp), says, "after receiving the objections , district administration will revise the new circle rates. They are likely to be effective from June 16th. According to proposed circle rates, near NH-24, circle rates have been hiked from 80 lakh to 1 crore per acre in Mehrauli village." The new rates have been hiked on basis of distance covered from National Highway.
Interestingly more than the
residential colonies, there is a likelihood of a steep increase in the residential land circle rates. In Ramprastha, Surya Nagar, Chandra Nagar, Vaishali, Kaushambi, Indirapuram, Vasundhara, Kavonagar, Rajnagar, Nehru Nagar, Brijvihar, Lohia Nagar, Patel Nagar and Rajendra Nagar the new circle rates have been hiked between 20% and 58%. The existing circle rates of residential plots range from Rs 12,000 to Rs 25,000 per sq mtr.
The new rates will be Rs 15,000 to Rs 32,000 per sq mt. For commercial plots, the circle rates have been hiked from Rs 20,000 sq mt to Rs 80,000 per sq mt. The new circle rates have been revised on the basis of total number of registrations of documentation in last 2-3 years. C o m m e n t i n g on the new circle rates, S K Divedi, vice chairman, G h a z i a b a d D e v e l o p m e n t Authority, said right implementation of new circle rates are more important to value the price index and area development.
Getting buyers to take a look at property is the biggest challenge in selling a property. For this reason, a little time and money is needed in
making out a solid proof in getting property registration. With over 18 lakhs in population, Ghaziabad is emerging as a popular destination. It is already being looked upon as an alternative to Delhi. Kramchandani, vice president, Parsvnath Developers, says: Commonwealth Games brings a lot of hope for fast development.
FOCAL POINT
More and more people are postponing purchases and settling for rented accommodation hence the increase in rentals. However, real estate agents say they haven't noticed any sudden spurt in the demand for rented accommodation The demand for housing in the next two quarters will be the key factor that decides the prices