Noida Authority ups property rates 12.5

Declaring the increase in property rate during its 173rd board meeting,the official stated that the basic rate of property in Noida is Rs 15,840 per sq metre.

Taking the cost inflation index into consideration,the Noida Authority has decided to increase the rate of properties by 12.5 per cent from April 31,2011,to March 30,2012, said an official with the Noida Authority. The rates of residential sectors such as 14A,14,15 A,17 and Sector 44 till April was Rs 43,560 per sq mt,and now with an additional 12.5 per cent,it stands at Rs 49,005.

The officials claim that due to low circle rates compared to market prices,the buyers have to pay more money in black.