GDA likely to slash additional charges, aims to boost property sales

Photo: City Spidey
Posted: Jul 27, 2019

To boost up the sale of unsold properties, Ghaziabad Development Authority is likely to slash the additional charges over properties by 30 per cent.

The Authority is planning to cut down supervisory and administrative charges, 15 per cent each from the properties. In order to do this, GDA will take up a survey to study the current scenario of the real estate market.

“We are still pondering on the proposal to cut down administrative and supervisory charges. Before that, we will study the rates of sale and purchase and other aspects of the real estate market before taking any decision,” said Kanchan Verma, Vice-Chairperson of GDA.

Currently, the authority has 6,500 unsold residential and commercial properties at Indirapuram, Vaishali, Kaushambi and Madhuban Bapudham. These unsold properties are estimated to value more than 1,500 crores.

Properties and and Revenue department of the authority is chalking out a plan to submit for approval in an upcoming board meeting.

The move to cut down charges is done after considering similar moves by Gautam Budh Nagar administration, Kanpur and Lucknow development authorities. GB Nagar administration has proposed slashing the rates of commercial properties by 21.5 per cent and waiving off the surcharge of 6 per cent on residential properties.

Recently, development authorities of Kanpur and Lucknow had lowered their property rates to woo the prospective buyers.

TAGS: Ghaziabad Development Authority / GDA / Indirapuram / Vaishali / Kaushambi / Madhuban Bapudham