Delhi Property Circle Rate: With the government ruling and the influx of flat buyers in Delhi, know the impact on Noida-Gurugram!

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    Delhi Property Rate: Kejriwal government has decided to give a big discount of 20% on sector rate on commercial and residential properties in Delhi. This makes the property affordable in Delhi, so many people may decide to buy property in Delhi. This will revive the real estate market in Delhi.

    Delhi Property Rate: Arvind Kejriwal of Delhi has decided to offer a huge 20% off residential and commercial property sector rate. This will help revive the real estate market in the capital, but it will have little effect on NCR cities. Due to high property costs in Delhi, buyers have mostly moved to areas such as Noida, Ghaziabad and Delhi’s adjoining THA. But, in Delhi, now buyers benefit from the savings in stamp duty and registration fees, which encourage them to buy properties in Delhi itself. The report is presented on its impact on the NCR:

    Buyers can contact Delhi

    Declining zoning rates in Delhi also affect the commercial and residential properties of Ghaziabad. Some buyers can go to Delhi. Real estate firm Credai officials say the property in Ghaziabad will not be affected much. Yes, Delhi buyers coming towards Ghaziabad can definitely get down. But Ghaziabad buyers will not go to Delhi because the price of the Delhi property is too high. The same area is available in Ghaziabad for a lower price. Kredai Ghaziabad President Gaurav Gupta said the government had been given a three-fold memo to reduce the circle rate. But the state government has not yet reduced the circle rate. Officials say if the circular rate is reduced now, the buyer’s chance of buying the property will increase. Also, the property that is ready to move will be sold as soon as possible. Revenue also increases significantly with the government. Real estate expert Amit Raheja believes that the number of buyers coming to Delhi from Ghaziabad will decrease as the circle in Delhi is less. But in other cities of NCR, more convenient flats are available at cheaper rates. Therefore, there is not much variation on the property. While the sector is down in UP, the property market is slowing due to COVID.

    Faridabad can have a negative impact

    Experts say this could have a negative impact on Faridabad’s property market. Buyers want to buy property in Delhi. Faridabad’s property market has been slowing down for some time. Despite all the options, some investors invest in property. Following Corona’s solution, the business was expected to accelerate slightly, but the decision to cut the circle rate in Delhi has raised concerns of people involved in the property business. There has been no decrease in circle rates in Faridabad. Instead, some colonies and villages are proposed to increase the zoning rate. The new zone rates will go into effect from April. “As the circle rate is low, the buyers will be the first buyers in Delhi,” said Gurmati Singh, general secretary of Faridabad Estate Agents Welfare Association. This will slow down the property business in Faridabad. We had filed some objections to the zonal rate in Faridabad but could not hear them.

    ‘Haryana Govt should consider’

    Gurgaon real estate entrepreneurs believe that there will be no impact to the real estate business here. The Haryana government should consider reducing the circle rate. Real estate guru Pradeep Mishra says that if the circle rate is high and the market rate is low, business will stop. The advantage of stamp duty is that the transaction beneath the circle is easily done. If the circle rate is lower than the market rate of the property, there is no special benefit. It is necessary to reduce the rate at which the market is above the sector. This decision of the Delhi government will definitely affect the attitude of the people. TDI Infratech MD Akshay Taneja praised the decision. According to him, the reduction in the circle rate will help revive real estate. Achey Raina, COO of Raheja Developers, said the decision was made at the right time, when the industry was recovering from the epidemic.

    The property in Delhi is many times cheaper than Noida

    Property and real estate experts say the Noida sector’s rates have not increased over the past two years, but the sector needs to boost after the corona period. In such a situation, the UP government should also reduce the circle rate. If the Delhi government had taken this decision, there would have been increased expectations for a rate cut. According to experts, the low zonal rate in Delhi will not affect the property market of Noida. Noida’s market is not shifting towards Delhi. The reason is that there is currently a 3 to 4-fold difference in property prices in Delhi and Noida. Noida’s market is currently in the affordable housing category. At the same time, property prices are skyrocketing in Delhi. Neredco President U.P. K. “We have demanded from the UP government to reduce the circle rate,” Arora said. Its presentation was also presented to the government. The UP government is also expected to do something to promote real estate. There is also a demand for reducing stamp duty.

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