Providing major relief to real estate developers, the district administration has decided to make changes in the proposed DM circle rates taking into account the former’s objections.
On Monday, administrative officials held a meeting with the city developers and assured them of addressing their concerns.
“Now the deadline for filing objections is over. We will finalise the rates soon,” said additional district magistrate (finance and revenue) Sanjay Kumar Singh Yadav. The new rates will come into effect from August 1.
The city developers had taken up the issue under the banner of UP Real Estate Developers’ Association.
One proposal that developers had objected to was charging of uniform rates on all floors of a multi-storey building used for commercial purposes.
“Now, circle rates would remain same for the registry of the first two floors of a multistorey building-both for residential and commercial use.
The rates would then decrease according to floor numbers,” said Yadav.
Similarly, the administration has decided circle rates would be highest for registry of shops in a complex closest to the road and would go on decreasing in proportion to the distance.
The proposal to impose extra charges per additional facility in the residential apartments had also not gone down well with the developers.
The stamps and registration department of the state government had introduced extra charges on services like security guard, gym and swimming pool in residential apartments and had hiked the circle rates of properties by nearly 10-25% last Wednesday.
“We will also consider the objections regarding the extra charges for additional services,” Yadav added.