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No Hike In Circle Rates, Just Correction Says Ghaziabad Administration.

Courtesy/By: Snigdha Kashyap | 13 Jul 2018

Ghaziabad administration, for the third consecutive year is not likely to hike circle rates. New circle rates will be implemented from August 8. Officials said they have decided not to hike circle rates this year to attract more registries and to generate revenue.

During 2016-17, the stamps and registration department achieved target Rs1,617.7 crore, 2017-2018 but the department was able to achieve Rs. 1224.33crore. This year i.e 2018-2019 they have hiked the target up to Rs 1,626 crore. In 2016-17, nearly 56,151 sales deed were executed. In 2017-18, almost 65,508 were executed.

“Not hiking rates will encourage residents to make sale deeds and this will in turn generate revenue for the department. Number of registries have increased with no hike in circle rates. Any hike will be rational and not on the basis of demand,” said Sunil Kumar, additional district magistrate.

Courtesy/By: Snigdha Kashyap | 13 Jul 2018