Property prices to shoot in Delhi and Noida belt
The property rates in the Noida belt are set to go up as the Registry and Stamp Department of Gautambudh Nagar has announced to increase the circle rates by around 10 percent from the 1st of August. The announcement to this effect was made by the department post getting the go ahead notice by the district administration in this week.
The hike has been announced in residential, industrial, commercial and group hosting properties. Although in institutional properties only two percent hike has been announced. In the month of April the Noida Authority had increased the allotment rates which had further led hike in the circle rates too. Although the hike in the circle rates in Greater Noida has already been announced by around up to 60 percent previously.
The property prices have been expecting to go up in this fiscal. This is acting as a positive sign for the real estate sector. Previously the NCR region had seen a drop in property prices, however there were expectations that the property prices would surge up soon. The announcement in Noida about property rates will act on good terms for the property developers.
Source: The Pioneer
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