Tag: Ghaziabad property rates

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Ghaziabad Body Lowers Interest Rates on Properties

GHAZIABAD: The Ghaziabad Development Authority (GDA) has reduced the interest rate on its properties from 10.7% to 8.7%, aligning it with the State Bank of India’s current rate as mandated by the state government. The rates will be subject to change in tandem with SBI’s adjustments. If SBI alters its interest rates, the GDA will likewise make necessary changes. This rate had been unchanged at 10.7% for the past seven years (since 2018). “Discussions regarding the interest rates charged by development authorities across the state were held, where it was emphasized that rates should be aligned with SBI. Why impose…

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Home Buying in Ghaziabad Gets Costlier with Development Fee Hike

GHAZIABAD: The UP government has increased the development fee in Ghaziabad by more than 66%, marking the highest rise compared to other districts. This increase primarily targets developers, yet it is likely to affect homebuyers as well, leading to higher prices for plots and flats across the district. The revised rates are included in the UP-amended Urban Planning and Development (Assessment, Levy and Collection of Development Fee) rules and will officially take effect pending approval from the Ghaziabad Development Board. GDA assistant engineer Rudresh Shukla stated that the development fee has been raised from Rs 2,500/sqm to Rs 4,170/sqm. “Compared…