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Real estate experts said that the demand environment will benefit significantly from steady ready reckoner rates, which affect the price of acquisition
Ghaziabad homeowners may have to pay Rs 5,000 more in taxes annually from April as the GMC plans to bring house tax on par with circle rates. Find out more about the proposed tax hike.
The circle rate is the minimum rate fixed by the state government for registration of properties, and to determine stamp duty. The proposal has come as a shock to those planning to invest in the city as it will further inflate property prices which are already very high.
The proposal includes a nearly 70% increase in circle rates for prime areas like Golf Course Road and MG Road. Prospective buyers are concerned about the steep price rise, as it may make it difficult for common people to afford a home. The government has invited objections and suggestions until December 17.
The sub-registrar offices in Karnataka will operate from 8 AM to 8 PM till September 30.