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HomeBUSINESSNationalProposed hike in circle rates in NCR ill-timed

Proposed hike in circle rates in NCR ill-timed

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Delhi NCR
Map of Delhi National Capital Region (NCR)

The proposal to raise circle rates in Noida, Greater Noida and along the Yamuna Expressway by as much as 40% and additionally apply a 5-12.5% surcharge on properties along the Metro route or near the expressway could not have come at a less ideal time.

The NCR real estate market has only just begun recovering from the dual impact of Lockdowns 1.0 and 2.0. At this point in time, a softer pricing regime would have encouraged more buyers as they are still struggling with the economic impacts of the Covid-19 pandemic.

The rationale is obviously to replenish depleted state coffers, and the recent uptake in real estate buying activity in NCR may have prompted the authorities to make this move.

At this point, it is still only at the proposal stage and it is to be hoped that the authorities will reconsider this ill-timed move.

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Also Read:

NCR real estate market headed for a free fall – Knight Frank India

NCR property buyers held at ransom by developers, authorities

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Anuj Puri
Anuj Puri
Chairman at ANAROCK Property Consultants Private Limited, Over 27 years of experience in multi-disciplinary advisory and transactions ranging from real estate to social development projects. Expertise in planning, undertaking demand assessment studies and transaction services including marketing strategies based on technical real estate market analysis, feasibility studies, program requirement derivation and fund and investor sourcing.


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