GDA freezes circle rates in some areas to attract buyers
ghaziabad: In a bid to attract buyers for government plots, the Ghaziabad Development Authority (GDA) has decided to freeze Circle Rates in some areas, meaning the price of land will remain stable. Officials said the decision has been taken as it was found that in some areas, the sector rates of the development authority are not compatible with the circle rates fixed by the district.
"The decision has been taken in the 156th board meeting. There are around 658 plots worth Rs 1,600 crore in some GDA-controlled areas like Madhuban Bapudham, Koyal Enclave, Swarnjyantipuram, Govindpuram and Indraprastha areas. Freezing the circle rate would attract property buyers and will also add to our revenue. Around 10 proposals were tabled, of which nine have been sanctioned by the board," a senior GDA official said.
The meeting was chaired by Anita C Meshram, Commissioner, Meerut. GDA Vice-Chairperson Kanchan Verma, Ghaziabad DM Ajay Shankar Pandey attended the meeting among others.
Meanwhile, the GDA also auctioned 17 industrial/commercial plots of Indraprastha Scheme and one residential plot in Pratap Vihar Scheme on Friday at Hindi Bhawan in Lohia Nagar, with officials saying it would generate revenue worth Rs 16 crore.