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Ghaziabad proposes no hike in circle rates this year

The decision comes in the wake of a target of ₹1,761 crore being set for stamp duty collections. Officials said the target is not too high and is almost the same as was given during the previous years.

noida Updated: Jul 20, 2017 23:46 IST
Peeyush Khandelwal
Peeyush Khandelwal
Hindustan Times
circle rates,circle rates in Ghaziabad,Ghaziabad real estate
The new circle rates are to come into effect from August 8. The circle rate is the minimum value at which the second sale or transfer of a property takes place.(Sakib ALi/HT Photo)

In a major relief to residents, the Ghaziabad district administration has decided not to propose a hike in the circle rates on properties for the financial year 2017-18. The new rates are to come into effect from August 8. Circle rate is the minimum value at which the second sale or transfer of a property takes place.

The decision comes in the wake of a target of ₹1,761 crore being set for stamp duty collections. Officials said the target is not too high and is almost the same as was given during the previous years. Hence, the decision was taken not to hike the circle rates this year.

“It is because of the similar target that we decided not to hike the rates. However, objections from citizens are invited till July 29 after which they will be heard on August 4 during disposal of objections. Thereafter, the final rates will be fixed and they will come into effect from August 8,” said Rajesh Kumar Yadav, additional district magistrate (finance & revenue).

The administration has revised the rates of certain properties falling under different sub-registrars as there were some discrepancies. The circle rates are published for properties based on their locations along three categories of roads – roads up to nine metres, roads over nine metres and up to 18 metres and those over 18 metres.

“There were some areas for which rates have not published in the list. The circle rates for these areas have been rationalised since all properties falling under a particular road category should have the same rate. For a prominent mall, we have revised the rates from Rs 90,000 square metre to Rs 1,80,000 per square metre,” Yadav said.

The rates of the mall in question are being probed after allegations that their rates were reduced by Rajesh Sharma, the suspended additional inspector general (stamps).

He was sent to judicial custody after two FIRs were lodged against him accusing him of taking bribes and running a parallel office at the private residence of a retired official. A committee of four senior state officials is also probing allegations against Sharma.

The officials said for all properties that are under investigation, their rates have been rolled back to the rates prevailing before August 2016.

The rates of the mall in question were decided at Rs 1,40,000 per square metre in August, 2015. These were revised and reduced at Rs 90,000 per square metre in August 2016, allegedly by Sharma to provide undue advantage to private persons.

First Published: Jul 20, 2017 23:46 IST