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Proposed Corrections Of Circle Rates In Ghaziabad.

Courtesy/By: Snigdha Kashyap | 27 Jul 2018

The Commissioner of Stamps on Saturday proposed certain changes with an aim to correct and bring circle rates at par with prevalent market rates.The department has proposed hike in some areas as well as dropping of 5% in certain areas.

The proposal include dropping of 5% of rebate given to high rise installations of rain water harvesting system. The department has also proposed a hike in valuation of certain properties. Houses/ plots facing parks which are presently valued at 7.5% higher than the land price will now be valued at 10% higher price. Residential properties with more than one road in their vicinity will also be hiked from 7.5% to 10%. In case the property fulfil both the conditions, they will be valued at 20% rather than existing 15%.

The officials have also proposed a hike of Rs 1000 in present circle rates of projects like Wave City, Jaipuria Sunrise Greens, Aditya World City among many others.Other corrections have been proposed for areas like Pasonda and pockets in Awas Vikas’s Mandola scheme.

“The idea to propose hike is to generate more revenue. As higher the price of property higher the stamp duty to be paid. Any objection to the proposal are invited by 28th July, after which a final meeting will be held on July 31,” said ML Patel assistant commissioner (stamps) said.

Courtesy/By: Snigdha Kashyap | 27 Jul 2018