Knowing how high the cost will rise before purchasing a home and land in Noida;
Retailers in the building were similarly shocked Properties in Noida that are used for residential, industrial, institutional, and group housing would cost between 20 and 30 percent more. As a result, acquiring a home and establishing a business here will cost money in the near future. Properties in Noida that are used for residential, industrial, institutional, and group housing would cost between 20 and 30 percent more. As a result, acquiring a home and establishing a business here will cost money in the near future.
Its request will be brought up at the board meeting on August 11. There are plans to raise the rate of property taxes after 2.5 years. The 205th board meeting will take place in the boardroom on Thursday at 11 a.m., according to representatives of the Noida Authority. About 35 proposals will be included in this. In addition to this, there will be some post facto ideas. Based on residential property, the authorities categorized the entire city into six groups.
Only the A and B blocks of Sector-14A, 15A, and 44 are included in Category A +.The highest category for group housing plots is A with an allocation rate of Rs 1 lakh 35 thousand 750, and the lowest category E has a fee of Rs 51290 per square metre. Only in Phase II will industrial property be 30% more expensive. It is suggested that IT-ITS property will cost 30% more in Phase II and 20% more in the remaining 1 and 3.
On September 27, 2019, only the E category of residential property rates were raised during the board meeting. Some industries were added in 2020, creating a new category called A+. There will be no rise in the commercial property allocation rates.
Double tax on running shop in house
For the first time, 35 thousand shops running in the houses of the city have come under the tax net. Now the Municipal Corporation will collect tax separately for the shop along with the house. For this the survey work has been completed.
For the first time, notices of mixed property are being prepared for collection of tax. The distribution of notices will start from next week. The corporation will collect tax of Rs 5 crore every year.
Till now the Municipal Corporation was collecting tax on residential and non-residential property only. The target is to collect Rs 186 crore of house tax every year, but more than Rs 140 crore was not being collected. Despite many efforts, the tax did not increase. A survey was conducted to find out the reasons for this.
