THE HIGH DEMAND FOR RESIDENTIAL, INDUSTRIAL AND COMMERCIAL PLOTS HAS INCREASED THE CIRCLE RATES IN GHAZIABAD.

Ghaziabad has new rise in land rates for residential purposes. The new circle rates have been proposed to bridge the gap between real estate prices and existing sector rates. After receiving the objections, the administration is repoted to be revising circle rates. As per 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. As per officials, 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.

Courtesy:- HT dated:- 20th June 2008