No circle rate hike in Noida this year

The district administration has decided not to increase the circle rates of property under the three authorities for this year. It reviews circle rates and revises them in accordance with the rates submitted by the development authorities. The administration has decided against hiking the circle rates in all areas under Noida Authority, GNIDA and YEIDA and it has invited feedback from residents, builders and other stakeholders by July 25. It will take a final decision after analyzing the feedback and may incorporate minor changes before its implementation on August 1. The people can submit their feedback at offices registrars, sub-divisional magistrates and tehsildars. The circle rate is the minimum value at which the sale or transfer of property takes place. The properties in Noida are classified into five categories — residential, commercial, industrial, and institutional and IT. The rates also differ depending on the sector.