Property to get costly in Faridabad

Bijendra Ahlawat

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Faridabad, November 30

Real estate prices and housing are set to get costlier here, with the district administration seeking suggestions and objections regarding its proposal of hiking the circle or collector rates of land in the city and the district from January 1.

While the hike proposed is between 10 and 268 per cent, depending upon the type of land and size, a draft of the proposal has been uploaded on the official website (faridabad.nic.in).

Objections and suggestions have been invited from residents to determine the proposed collector rates of all residential and commercial pockets falling in all revenue areas of the district for 2024, says the order of the district authorities. Any objection or suggestion received after December 7, 2023, will not be considered, and all suggestions or objections will be disposed of by December 17, it reads.

This is the second consecutive year when such rates have been proposed to be revised in the district. The rates had also been hiked between 4 and 40 per cent last year, according to officials concerned.

As over 95 per cent of the residential areas, including sectors and colonies, have been included in the proposed hike, it ranges between a minimum of 10 per cent and goes up to 75 per cent in residential localities where the size of plots is up to 1,000 sq yards. The hike proposed for commercial and institutional plots is higher, it is claimed.

With around 36 villages included in the draft proposal, an increase of 206.67 per cent has been proposed for 1 acre of agricultural land at Agwanpur village of the district. It is 64.29 per cent for residential plots in this village, one of the highest in rural parts.