Residents of Noida and Greater Noida have a reason to rejoice as the circle rates have been revised. The new circle rates will be made effective from August 8, 2019. Residents will now be required to pay less while purchasing stamp papers for registration as three surcharges on house properties have been removed from this year.
According to a press release issued on the new circle rates, 2 per cent additional surcharge which was levied while purchase of stamp paper for registry on each facility of community centre or club house, swimming pools and gymnastic in a gated society has now been removed. It is 6 per cent cumulative,which means a home buyer now needs to pay less.
Further, it says that 25 per cent surcharge on shopping malls has already been removed. The circle rate on all the commercial projects has also been reduced by 21 per cent.