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Circle Rates To Remain Unchanged.

Courtesy/By: Snigdha Kashyap | 12 Jul 2018

The Gautam Budh Nagar Administration has proposed to keep the circle rates unchanged for residential, commercial and institutional buyers.

However, few changes are proposed such as waiver in charges on common facilities in group housing societies, rateable value of different floors etc. New circle rates will come into effect from August 1.

Common facility charges for flats having facilities such as lift, power backup, gym, swimming pool has been reduced to 6% . Terming facilities such as lifts and power back up necessary, thereby removing them from the list. The other facilities such as gym, community centre and swimming pool have been reduced from 3% to 2%.

The administration has also proposed to reduce the rateable value for calculating the stamp duty by up to 15% for commercial properties and up to 20% for non-commercial.

The rateable value of the ground floor will be reduced by 15% , of lower ground floor, mezzanine and basement has been reduced by 13.33% while for other numbers remain unchanged.

For non-commercial sectors rateable value will go down by 20% and for lower ground, upper ground, basement will go down by 16.6%; second floor by 10% and third by 11.11%.

“Any objections to the proposed rates are welcome. Final circle rates will be announced on August 1,” said Keshav Kumar, additional district magistrate.

Courtesy/By: Snigdha Kashyap | 12 Jul 2018