After Noida-Greater Noida, it is now turn of Ghaziabad where property is set to be costlier, as a result of an upward revision in development charge from Rs 650 to Rs 800 per sq metre and a proposal for revision of sector rates. After the raise in development charge, GDA (Ghaziabad Development Authority) has plans to revise the sector rates by 25% to 40%.
In concert with the increase in development charge, GDA has adopted a new arrangement. Under a new arrangement, development charge will be recovered sectorwise. Earlier, it was recovered according to area divided into Top Hindon and Trans-Hindon zone. The GDA has now decided to recover the development charge according to area divided into different colonies on the basis of Ganga water supply.
As of now, in Top Hindon areas like Raj Nagar, Kavi Nagar, Nehru Nagar, development charge was recovered at the rate of Rs 1,847 per sq metre. After the area’s declaration as non-Ganga water supply zone, GDA has raised the development charge by Rs 653 per sq metre. So, residents of Top Hindon zone will now have to pay Rs 2,500 per sq metre as development charge. While in Trans-Hindon Zone like Vaishali, Kaushambi, Indirapuram, Vasundhara, the development charge has been increased by Rs 652 per sq metre to the existing Rs 1,948 per sq metre. In Trans-Hindon, Ganga water is being supplied.
According to the new arrangement, for approval of drawing and NoC (no-objection certificate), developers of Raj Nagar Extension, Loni, Madhuban-Bapudham, Indirapuram Extension, NH-24, etc, have to pay new development charge as an extra burden. Apart from this, residents must also be ready to pay new sector rates soon, as the GDA has already made a proposal to increase the existing rates.
After the GDA, the district administration is also planning to revise the circle rates. According to K P Yadav, assistant commissioner (stamp), the sub-registrar concerned has been asked to submit a proposal to revise the circle rates. Once it is revised, property rates in Ghaziabad will go up.
N K Chaudhary, the vice-chairman of GDA, says: “To improve the infrastructure, GDA has started widening the expressway roads, constructing bridges, besides widening several internal as well peripheral roads. Several flyovers are under construction or in the tendering process, which will make several roads signal free and smoothen the traffic in a big way. To meet the housing demand, the GDA will soon launch a new group-housing scheme in Vaishali. In a recent satellite survey, the GDA has earmarked 3,100 sq metres of vacant land in Vaishali. For this, the construction department has been directed to give an estimate for 16-floor group housing projects.”