Summary:
The consultant’s report highlights that in some commercial areas, the circle rate is almost double the plot rate. NOIDA: A report by a consultant of Noida Authority suggests that disparity between plot rates and circle rates could be a significant reason why the Authority is unable to sell its residential plots in different sectors. On the other hand in Noida, plot rate, which is fixed by the Authority in each sector and category, is often far lower, and reflects current market reality. Properties in Noida are classified under six categories — group housing, residential, commercial, industrial, institutional and IT. Last year, the district magistrate gave rebates in circle rates and fixed a maximum 6% surcharge for stamp duty, against the existing 15%..