Views on Land Price Hike by Noida Authority: Vikas Wadhawan, Group CFO, Housing.com, PropTiger.com & Makaan.com

New Delhi, August 14, 2022: “The move by the Noida authority would significantly raise the land prices in a city where affordability has been the main driver of demand amid the coronavirus pandemic which was earlier reeling under instances of developer insolvency cases and project delays.

Unlike most states, the government of the state has also refused to entertain the demand for circle rate and stamp duty reduction even though many of its peers in the country did so to boost pandemic-hit realty.

This move coupled with recent price rise, 140 basis points rate hike by RBI since May and the burgeoning cost of raw materials somewhere deeply impacts the market sentiments which still seem upbeat hence the govt. should be cautious while taking such steps.”

Corporate Comm India (CCI Newswire)