Buying property in Ghaziabad has become more expensive. After resolving the objections on the DM circle rate, the District Magistrate has issued the final publication on Wednesday. In this way, buying property and land in the district including Wave City, Aditya World City will become expensive. Officials say that in many areas of the city, the DM circle rate is much lower than the market rate.
Even though the price of land is high, there is a loss of revenue due to low circle rate. Earlier, the rates of residential plots in Wave City and Aditya World were Rs 17,300 per square meter. It was proposed to increase it to Rs 50,000 per square meter. Objections were raised on both these. After the objection, the circle rate of Wave City has been fixed at Rs 1,000 per square meter.
Similarly, the circle rate of Aditya World has been fixed at Rs 35,000 per square meter. Apart from this, the rate of agricultural land has also been changed. The rate of agricultural land of all villages has now been increased by 10 percent. To increase the DM circle, the team of SDM, Tehsildar and Revenue Department had surveyed the areas. After the completion of the survey, the administration had sought objections on the proposed rates. These have been resolved.
However, property purchases continue to increase. According to a report by real estate company Square Yards, the registration of residential properties in Noida and Greater Noida has seen a 29% increase in the April-June quarter. This is on a yearly basis. 8,212 units were registered in the April-June quarter. During the same period in the last financial year, it was 6,354 units. Its combined sales value was Rs 6,013 crore. This increase was 59% compared to last year.