Faridabad Circle Rates to rise increasing cost of property further

[dheerajjain]

It is a fact that Faridabad administration is only interested in exploiting property buyers and looting money from them. It is planning to further increase circle rates.

Mr. Prabhu Razdan of Hindustan Times reports from Faridabad on Mar 24, 12

http://www.hindustantimes.com/India-new ... 30045.aspx

Property rates are likely to climb further in Faridabad as the district administration is considering a 20-30% hike in circle rates. Property dealers have warned that they would protest the move like last year, when circle rates were increased by 15%.

While sources indicated that revenue
officials were planning to raise the circle rate, senior officials said a final decision would be known in a week.

The property dealers have threatened an agitation if the district administration ignores their opinion and raises circle rates beyond 10-15%.

[sendtomanish]

This is ridiculous. Govt should first complete the infrastructure project i.e. Master Road, Sewerage, drinking water etc rather than collecting high money sometime on name of enhanced EDC and now in name of higher circle rate. We home buyers should oppose this hike tooth and nail and call on street protest against this hike, no matter we should come with PD if they protest too, but I feel GFWA should also oppose this.

[dheerajjain]

Yes, I agree with Manish. All real estate stakeholders including home buyers, property dealers and builders should oppose this hike. May be we can plan a joint protest

[BlessU]

Hi
Greetings

Circle rates increased upto 100% from 2011-12 levels for many Sectors for Current Year 12-13
http://www.indianrealestateforum.com/attachments/faridabad/8944d1333253984-circle-rate-faridabad-increased-50-100%25-1-jpg



Neharpar is 18000 psy for Plots and 2300 psf for flats up from 15000 psy and 2100 psf respectively.

Cheers