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No Reduction In Gautam Budh Nagar’s Circle Rates

Courtesy/By: Snigdha Kashyap | 28 Jul 2018

On Wednesday, the Gautam Budh Nagar district administration rejected the builder’s demand for reduction in prevailing circle rates for residential and commercial properties. The circle rates will remain same for fiscal year 2018-2019 as they were last year.

The circle rate refers to the minimum value at which the government charges the stamp duty for execution of registry (sale) for properties either residential or commercial.

Revision of circle rates is an annual exercise, done in month of July and implemented from August 1. However in Ghaziabad district the new circle rates will implement fro August 8.Wave Infratech, Jaypee Group along with an individual and an advocate had demanded that the circle rates to be reduced.

“Their demands were rejected on the grounds that’s since the circle rates have not been hiked since 2013 for commercial properties they cannot be reduced further,” said SK Singh, assistant inspector general , stamp and registration, Noida.

However, the administration has waived the 5% stamp fee on two wheeler parking space.

Courtesy/By: Snigdha Kashyap | 28 Jul 2018