Noida plot sales hit by circle rate gap

Noida plot sales hit by circle rate gap
23/02/2019 , by , in News/Views

A report by a consultant of Noida Authority suggests that disparity between plot rates and circle rates could be a significant reason why the Authority is unable to sell its residential plots in different sectors.

In its primary report, Currie and Brown has claimed disparity in rates is 11% in some residential sectors, and much higher in group housing societies and commercial sectors.

In December 2018, Noida had launched a scheme for 442 residential plots, but only 505 people applied for 107 plots, which were allotted via e-auction. The Authority did not find any takers for the remaining 335 plots in the scheme.

These plots are located in sectors 12, 31, 39, 44, 49, 51, 52, 70, 100, 122 and 93B. The scheme was relaunched in January for the remaining plots, but only 226 people have applied for 82 plots so far.

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