Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Luxurious Property rates to be hiked in Greater Noida

By Sanjay Kumar Subscribe to RSS | August 6th 2012 | Views:
loading
 
  



Greater Noida, Noida and Gurgaon have seen an upsurge within the demand for luxury homes, in recent time. With the general economy back on the right track and with higher disposable incomes, the confidence of consumers and sellers, too, has improved. This has led many builders within the NCR to develop higher and bigger luxurious homes. Today, Greater Noida and Noida is that the hub of developments with most of the developers, with a presence in Delhi and also the NCR, having residential property in Greater Noida and Noida.

The circle rate of properties within the district is ready to be hiked by ten to thirty percent. The Gautam Budh Nagar administration has granted approval to the new rates and has invited objections if any, from the general public. The district magistrate, stated that he can grant a final approval to the hike during a meeting held in July. The new rates are applicable across the district from July seventeen onwards and every property in Greater Noida are registered at the new circle rate thereafter.

The objection of the residents on the hike are taken by the registry department until July thirteen. Whereas the circle rates for group housing and residential property in Greater Noida may be increased by around fifteen to thirty percent, the circle rate for institutional and commercial property in Greater Noida is probably going to be hiked by around twenty to thirty percent and therefore the circle rate for the economic sector by 100%.

The administration set that it absolutely was essential to lift the circle rates within the district as property costs have increased significantly. The new rates are received on the idea of the present allotment rates of property and land in Noida and Greater Noida. The rise has been proposed to bridge the gap between the present property costs and offered circle rates within the sectors.

The hike in circle rates can discourage folks from purchasing and selling property below the market value as a result of the proposed circle rate can cowl the gap between this circle value and its market price. The decision to extend the circle rates within the 2 cities had been into account since July last year and therefore the administration has finally approved the revision of the circle rates in Greater Noida, Dadri, Noida and Jewar.

The last hike in circle rates within the district was implemented in 2010. The circle rate was hiked between fifteen and twenty percent. Circle rate is that the minimum rate at that stamp duty is charged on transaction of a property in Greater Noida. It's rampant observe for several property sellers and patrons to declare the worth of transaction at a lower rate to get away with a lesser stamp duty payment. This results in a large loss in revenue for authorities and, thus, it's to be revised depending on the prevailing market price.

The real estate sector is once again booming and builders are leaving no stone unturned in luring customers with attractive packages. Since, the Noida Expressway became operational, the real estate has seen an enormous response. Greater Noida Expressway is seeing some of the fastest pace of construction activities in the whole of Noida and Greater Noida.

Sanjay Kumar - About Author:
Sanjay Kumar writes on behalf of PropTiger which is an independent real estate advisor with a pan-India presence. Proptiger aspire to be your first port of call if you want to buy a residential Property in Greater Noida.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/luxurious-property-rates-to-be-hiked-in-greater-noida.htm

Related Real Estate Articles Subscribe to RSS

Get Quick and Firm Cash for House from “We Buy Houses” Investors
Published by Andrew Gomez on August 25th 2012 | Real Estate
Cash for house is the best solution for all those who want to avoid the trouble of conventional hous...
 
Use Online Options when You Need to Snel Huis Verkopen in the Netherlands
Published by Bryan Pagano on August 24th 2012 | Real Estate
The Relocation Guarantee Scheme is a guide to the home owner as No worries when buying a new home...
 
Use Online Options when You Need to Snel Huis Verkopen in the Netherlands
Published by Bryan Pagano on August 24th 2012 | Real Estate
The Relocation Guarantee Scheme is a guide to the home owner as No worries when buying a new home...
 
Use Online Options when You Need to Snel Huis Verkopen in the Netherlands
Published by Bryan Pagano on August 24th 2012 | Real Estate
The Relocation Guarantee Scheme is a guide to the home owner as No worries when buying a new home...
 
Land and Flats for Sale, Rent in Badlapur, Dombivli and Ulhasnagar
Published by John Lee on August 24th 2012 | Real Estate
Find your dream home, property Land and Flats in Badlapur, Dombivli and Ulhasnagar at badlapurproper...
 
Obtain Property or Have Flats and Homes for Rent in Kolkata
Published by Vinay Jain on August 24th 2012 | Real Estate
There are plenty of House for sale in Kolkata. It needs plenty of time, analysis and cash. The most ...