Ghaziabad Property May Get Costlier With GDA Hiking Development Charges
Rates of property in Ghaziabad are likely to go slightly up with the city development authority hiking development charges. The 3.03 per cent increase in the fee comes into effect from April 1 this year.
Under the provisions of the Uttar Pradesh Urban Planning and Development (Assessment, Levy and Collection of Development Fee, Rules, 2014, real estate developers have to pay a development fee to the GDA. The increased cost of the project would in turn be passed on to homebuyers.
Before the hike came into effect, developers had to pay Rs 3,024 per square metre (psm) as development charge. They will now be paying Rs 3,114 psm.
The Ghaziabad Development Authority (GDA) has also implemented a similar hike in road cess, Metro cess, compounding charges and inspection charges. The move is aimed at earning greater revenues. It is worth mentioning here that fund crunch has led to the city authority extending the launch date of Metro services in the city. Roads projects in the city have also met a similar fate because of the same reason.
According to officials, the hike in elevated road cess would be levied only on projects in Raj Nagar Extension. On the other hand, the new Metro charges are applicable on both Metro routes, from Anand Vihar to Vaishali and From Dilshad Garden to New Bus Stand. The latter is still under-construction, and may be operational only by September this year.