1. Noida: Good news for home buyers, bad news for investors; thanks to demonetisation

Noida: Good news for home buyers, bad news for investors; thanks to demonetisation

A good news for people who are willing to buy property in Noida; a bad news for people who are willing to invest in real estate in Noida.

By: | Published: July 17, 2017 5:52 PM
Noida, circles rates, Noida Authority, GNIDA, YEIDA, home buyers, flat buyers, demonetisation Like every coin has two sides, this news also has two perspectives.

Like every coin has two sides, this news also has two perspectives. One, it is good news for people who are willing to buy property in Noida; second, it is a bad news for people who are willing to invest in real estate in Noida. According to a report in Times of India, Noida district administration has taken a decision against increasing the circle rates of property under the three authorities. Reportedly, the decision by administration reflects the situation on the ground because the real estate sector is in recession in Noida. The fallout is believed to be due to demonetisation move by the Narendra Modi government.

For readers information, do know that the circle rate is the minimum value at which the sale or transfer of property can take place. The circle rates may vary depending on the sector. At present, the properties in Noida are classified into five categories -residential, commercial, industrial, institutional and IT.

Noida district administration reviews and may revise circle rates in accordance with the rates submitted by the development authorities. Now, as Noida authority has said no to increase in circle rates hence people who are willing to buy homes are happier. On the other hand, it is a setback for the people who invest in property just to earn profits. “The administration has decided against hiking the circle rates in all areas under Noida Authority, GNIDA and YEIDA,” District Magistrate B N Singh said.

The final implementation of this decision by Noida authority will take place on August 1. The district administration has invited feedback from people regarding the move by July 25. According to TOI, the officials will analyse the feedback and may incorporate minor changes before its implementation.

  1. V
    vikas
    Jul 19, 2017 at 12:27 pm
    What a fun!! This will increase the back marketing in buying homes. Investors will show that they are selling their houses at circle rate and take more money in black. It's an opportunity for investors to make more money than Actual buyers.
    Reply
    1. D
      Das.PS
      Jul 17, 2017 at 8:18 pm
      The most popular, effective and easiest way of making money through on line..join world’s most reputed and trusted ‘pay to click’ ’ Neobux’, today.. just click some ads daily that takes just very few minutes, no technical knowledge needed and joining is completely free...use the following link to join the most accepted and straightforward work from home money making method available in the world today. s: neobux /?rh 6D6164617070616C6C79
      Reply

      Go to Top