Homes in NCR a distant dream for the middle class

September 9, 2008	(Be the first to rate this story!)  Loading ...
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The Indian real estate sector is currently witnessing a slowdown. Despite the trend, buying a house in Delhi and NCR it is still a distant dream for the salaried middle-class section. “The property rates in city were already out of the reach of the common man but now it has become beyond the reach of normal middle class also,” said U K Bhardwaj a property dealer of Noida.

The circle rates in undeveloped sectors like sector 220, 240 are Rs 4,000 to Rs 7,500 per sqm meter. The revised circle rates with an increase of 20 to 25 per cent in various sector of the city came in effect from Monday. The minimum rate for the resale of property at which the district administration will charge registration fee is Rs 18,000 per sqm in sector 1 to sector10 that was earlier Rs 15,000 per sqm. The maximum circle rate in residential sectors is in sector 14 A, 15, and 15A that is Rs 40, 000 to Rs 40,500 per sqm. The price of a double bed room flat of area around 30 sqm, in Noida on the basis of above price list will be around Rs 6 lakh. But this is the minimum rate below which the stamp department will not charge the stamp duty. The actual property rate in the city is much higher. Such a flat would cost around Rs 45 lakh to 60 lakh in any residential sector of Noida. The circle rates in sectors 11 and 12 are Rs 20,000 per sqm and for sector 16 A the circle rate is 30,000 per sqm. The property rates in Noida are the highest in Uttar Pradesh.

News Published Under:   Real Estate India |

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