New Delhi: Thinking of buying a land in Noida or Greater Noida? Be ready to pay more for the land now, as the district administration is going to hike circle rates of land in Noida and Greater Noida.

The new circle rates are expected to come into effect from July 1.

According to official sources, there may be an increase of 15-20 percent in the existing circle rates. At present, circle rate in Greater Noida range between Rs 14,000 to 17,000 per metre square, and in Yamuna Authority region the rates are 5,500 per metre square, while the circle rates vary in different villages.

It may be recalled that last month, Authorities had made an increase of 12.5 percent in the circle rates of Noida, Greater Noida and Yamuna Expressway properties. The hiked rates had come into effect from April 1.

In order to discuss for increasing the circle rates of land, ADM Shivkant Dwivedi had called upon a meeting of SDMs, Sub-registrars and AIG stamp of three Tehsils on Saturday and it was decided to hike the circle rates from July 1.

Before this, the administration will review last year’s circle rates and market rates in every village and sector. The sub-registrars have been directed to submit their reports about the survey by June 15.

ADM informed, “Last year, circle rates were increased in few places. But this time the rates will be go up in all areas.”

It is expected that the sectors which mark increased sale-purchase of land will witness a higher increase in the circle rate.

JPN/Bureau