Relief to property buyers in Lucknow, LDA took this decision despite rising circle rates
Lucknow There is news of relief for home buyers planning to buy property. Despite the increase in circle rates (DM circle rate) by the district administration from 15% to 25%, the Lucknow Development Authority (LDA) has made it clear that it will not make any changes in the rates of its residential plans. That is, LDA’s property circle will not be expensive despite the increase. This is good for people dreaming of home in Lucknow.
According to the information given, this decision of LDA will be applicable to all plans that are currently being given on the “first come, first serve” model. Also, the same rates will be applicable on the upcoming schemes like Anant Nagar Housing Scheme. This means that people who are preparing or purchased to buy LDA property will get relief despite increasing circle rates.
The rates will not increase for the next one year
According to the LDA, the board unanimously decided that the sector rates will not be extended for the next one year. This will give the buyers confident that whenever they shop, they will not have to worry about changes in rates. Even though the stamp duty and registration fee will now be levied on the basis of increased circle rates, but those taking property at the fixed prices of LDA will not have to bear much burden altogether. It is worth noting that in major urban areas like Gomti Nagar, Mahanagar, Indira Nagar and Alambagh, circle rates have been increased by 15 to 25 percent.
Cheap property is getting from private developers
LDA projects are getting cheaper property compared to private developers. On the other hand, after the circle rate increases, private private builders can put this increased cost on the customers, while the stable prices of LDA can prove beneficial for common buyers. Property experts believe that this decision will not only benefit new buyers, but can also benefit the owners who have already purchased LDA property. As the prices of private property surrounding the surrounding property will increase, the resail value of LDA’s property will increase.
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