Rs. 15,620 per sq mtr is worthy or not? Answered in detail...

[sanskritika1504]

 

Dear All,

 

These days I get constant calls asking if applying or buying at Rs. 15,620 worthy or not. So, I have decided to clarify in detail (below).

 

Firstly, it is important to understand that Rs. 15,620 is not the final expense. One needs to add Lease Rent, Stamp Duty, Registration Charges and miscellaneous expenses to achieve the finally figure.

 

 

Please allow me to expand on it:

 

1. Allotment Rate = Rs. 15,620 per sq mtr

 

2. Lease Rent = Allotment Rate x 10% = Rs. 1,562 per sq mtr

 

3. Stamp Duty = Circle Rate x 7% = Rs. 17,500 x 7% = Rs. 1,225 per sq mtr

 

4. Registration Charges = Rs. 20,100/-

 

5. Lawyer’s Charges = Rs. 5,000/-

 

6. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr

 

This calculation is applicable for all plot sizes of RPS/2018 and RPS/2019.

 

 

For better understanding, lets calculate how much will a 300 sq mtr plot cost in the end.

 

1. Allotment Rate = Rs. 15,620 per sq mtr x 300 sq mtr = Rs. 46,86,000/-

 

2. Lease Rent = Allotment Rate x 10% = Rs. 1,562 per sq mtr x 300 sq mtr = Rs. 4,68,600/-

 

3. Stamp Duty = Circle Rate x 7% = Rs. 17,500 x 7% = Rs. 1,225 per sq mtr x 300 sq mtr = Rs. 3,67,500/-

 

4. Registration Charges = Rs. 20,100/-

 

5. Lawyer’s Charges = Rs. 5,000/-

 

6. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr x 300 sq mtr = Rs. 30,000/-

 

Final Amount = Rs. 46,86,000 + Rs. 4,68,600 + Rs. 3,67,500 + Rs. 20,100 + Rs. 5,000 +Rs. 30,000 = Rs. 55,77,200/- = Approximately Rs. 18,500 per sq mtr to Rs. 18,600 per sq mtr

 

Hope the calculation is clear to all.

 

 

Now lets work on the 300 sq mtr plots of RPS/2009 Scheme.

 

1. Allotment Rate = Rs. 4,750 per sq mtr x 300 sq mtr = Rs. 14,25,000/-

 

2. Interest = Total Interest paid over 8 years = Approximately Rs. 1,900 per sq mtr x 300 sq mtr = Rs. 5,70,000/-

 

3. Lease Rent = Allotment Rate x 10% = Rs. 475 per sq mtr x 300 sq mtr = Rs. 1,42,500/-

 

5. Farmer Compensation = Rs. 1,330 per sq mtr x 300 sq mtr = Rs. 3,99,000/-

 

4. Stamp Duty = Circle Rate x 7% = Rs. 17,500 x 7% = Rs. 1,225 per sq mtr x 300 sq mtr = Rs. 3,67,500/-

 

5. Registration Charges = Rs. 20,100/-

 

6. Lawyer’s Charges = Rs. 5,000/-

 

7. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr x 300 sq mtr = Rs. 30,000/-

 

Final Amount = Rs. 14,25,000 + Rs. 5,70,000 + Rs. 1,42,500 + Rs. 3,99,000 + Rs. 3,67,500 + Rs. 20,100 + Rs. 5,000 + Rs. 30,000 = Rs. 29,59,100 = Approximately Rs. 9,800 per sq mtr to Rs. 9,900 per sq mtr. For sake of convenience, lets assume the final cost to allottee of RPS/2009 would be Rs. 10,000 per sq mtr.

 

 

Now lets assume that the premium is Rs. 4,000 per sq mtr for a GENERAL location plot (which is not a corner, not park facing and not on the main road)

 

So, the total sale price would be Rs. 10,000 + Rs. 4,000 = Rs. 14,000 per sq mtr = Rs. 42,00,000/-. In other words, this is how much a plot would cost. Again, this is a hypothetical assumption. The plots in real world may cost slightly cheap or slightly expensive.

 

 

Having assumed the cost of the plot is Rs. 14,000 per sq mtr, how much would it cost to transfer in the purchaser’s name?

 

1. Transfer Charges = Current Allotment Rate x 5% = Rs. 15,620 x 5% = Rs. 781 per sq mtr x 300 sq mtr = Rs. 2,34,300/-

 

2. Processing Fee = Rs. 1000/-

 

3. Stamp Duty = Circle Rate x 7% = Rs. 17,500 x 7% = Rs. 1,225 per sq mtr x 300 sq mtr = Rs. 3,67,500/-

 

4. Registration Charges = Rs. 20,100/-

 

5. Lawyer’s Charges = Rs. 5,000/-

 

6. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr x 300 sq mtr = Rs. 30,000/-

 

Final Amount = Rs. 2,34,300 + Rs. 1,000 + Rs. 3,67,500 + Rs. 20,100 + Rs. 5,000 + Rs. 30,000 = Rs. 6,57,900 = Approximately Rs. 2,100 per sq mtr to Rs. 2,200 per sq mtr.

 

Therefore, if one was to purchase a GENERAL location plot of 300 sq mtr, under RPS/2009 scheme, would be Rs. 10,000 + Rs. 4,000 + Rs. 2,200 = Rs. 16,200/- per sq mtr = Rs. 48,60,000/-

 

 

I hope everyone is now clear about the CURRENT SITUATION. As of today, one can save approximately Rs. 2,300 per sq mtr to Rs. 2,400 per sq mtr if one was to purchase a 300 sq mtr plot from secondary market.

 

Well, that is not the only advantage, when one purchases from the secondary market, one has the option to choose the location of the plot, which is absent if one was to apply in the original scheme.

 

 

Having said all that... please understand the same advantage is not applicable on plots less than 300 sq mtr as all such plots have been allotted at the rate of Rs. 15,620 per sq mtr. Also, right now we are in a unique situation. Today, plots from secondary market are cheaper than the plots allotted by the authority. This situation may not remain the same forever. Depending upon the progress on the Noida International Airport front, the situation may change. When that happens and what difference it makes, is anyone’s guess.

 

Would also like to inform that plots smaller than 300 sq mtr, in Sector 18 are much better located than the plots allotted in Sector 17 or Sector 22D. In other words, smaller plots in Sector 18 (as of now in Pockets 7-D & 7-E) are expected to fetch better premium in the future, than the smaller plots allotted in sectors 17 & 22-D.

 

 

Hopefully, there would be much better clarity now. Just to ensure there is no doubts, as of now it appears that if one was to purchase a 300 sq mtr plot, it is better to purchase from secondary market and if one was to purchase plots smaller than 300 sq mtr, one should go to original allotment in Sector 18.

 

My two cents,

 

Safal Suri

 

 

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[Sandeep Kumar]

Dear safal,

  Thank you very much for this clarification detail. I want a clarification on one point which is if someone buys a plot from 2009 scheme on resale then as per your calculation he does not have to pay for lease rent deed. Please clarify. Following is your calculation....

Having assumed the cost of the plot is Rs. 14,000 per sq mtr, how much would it cost to transfer in the purchaser’s name?

 

1. Transfer Charges = Current Allotment Rate x 5% = Rs. 15,620 x 5% = Rs. 781 per sq mtr x 300 sq mtr = Rs. 2,34,300/-

 

2. Processing Fee = Rs. 1000/-

 

3. Stamp Duty = Circle Rate x 7% = Rs. 17,500 x 7% = Rs. 1,225 per sq mtr x 300 sq mtr = Rs. 3,67,500/-

 

4. Registration Charges = Rs. 20,100/-

 

5. Lawyer’s Charges = Rs. 5,000/-

 

6. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr x 300 sq mtr = Rs. 30,000/-

 

Final Amount = Rs. 2,34,300 + Rs. 1,000 + Rs. 3,67,500 + Rs. 20,100 + Rs. 5,000 + Rs. 30,000 = Rs. 6,57,900 = Approximately Rs. 2,100 per sq mtr to Rs. 2,200 per sq mtr.

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[R P AGGAWAL]

Dear Sir 

Please suggest some good lawyer for registration of lease deed in around Rs 5000/-

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[Rajesh Kumar Trivedi]

Hello All,

I have very basic questions.

1. Is it worth to invest in YEIDA plots. What appreciation is expected in next 5 or 10 years OR when can we think to start living on this place. Below calculation is self explaining of buying through authority or through secondary market. 

2. can anyone give comparison of Gaur Yamuna City Plot Vs YEIDA plots ?

Please reply..

[Rakesh Kumar]

Dear Safalji

You are considering down payment for current scheme.With instalment option it will cross Rs.20000 per sq mt.

Thanks

Rakesh

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[Safal Suri]

Dear Mr. Kumar

Sorry! Couldn't understand your question. Please clarify.

Regards

Safal Suri

Sent from my Samsung Galaxy Note8.

[Rakesh Kumar]

Dear Safalji

I am trying to add that plot allotment under option 2 or 3 in new scheme will be even more costly I.e.around Rs. 20000 per sq mt.

In 2009 u have considered interest calculation also whereas for new scheme payment option 1 is considered.

Hope it clarifies.

Regards

Rakesh

[Vijay (GGN)]

Hi Safal Ji

Do someone has map to see location of these plots  162, 300 sq meter etc available for new Scheme.

Regards

Vijay K

[Shashi Dandona]

Is the lease rent @1% or 10% ?

[Safal Suri]

Onetime lease rent is 10%.

There is no provision of 1% per annum lease rent.

Sent from my Samsung Galaxy Note8.

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[kingfisher1997]

Thanks for the info

[R P AGGAWAL]

Lease rent is 10%

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[Amit Kumar]

Thank you so much for the details information!

One more information I would like to ask here: Will there be any additional GST or other taxes applicable? As I heard some developers have started changing on flat price around 18%. If that is the case, the final amount would be significantly increase.

Thanks 

--

[Safal Suri]

 

 

GST is not applicable on plots.

 

I wrote about GST in great detail few months ago. Please search that post and read it carefully. Shall answer most questions.

 

Cheers,

 

Safal Suri

 

 

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From: Amit Kumar

Sent: Monday, March 4, 2019 7:47 PM

To: ye...@googlegroups.com

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For help or assistance, please contact one of the moderators: Arnab Mukherjee, Harpreet Singh Guller, Nagin Chand, Naveen Deep Sharma, Raj Yadav or Safal Suri via email: mode...@yeida.org
 
Alternatively, you may write to Safal Suri at safa...@gmail.com or speak on +919811182828 between 10 am and 5 pm.
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[kingfisher1997]

Safal ji,

Is the lease rent 10% of registered value of the plot as per ATL or present circle rate value? Please clarify.

Shashi Dandona

On Sun, 24 Feb 2019, 21:55 Safal Suri, <safa...@gmail.com> wrote:

[Safal Suri]

Lease Rent is 10% of original Allotment Rate.

Stamp Duty is 7% of Current Circle Rate.

Registration Fee is Rs. 20,500.

Sent from my Samsung Galaxy Note8.

-------- Original message --------

From: kingfisher1997 <shas...@gmail.com>

Date: 11/03/2019 12:18 pm (GMT+05:30)

To: ye...@googlegroups.com

[kingfisher1997]

Thanks

[Sandeep Kumar]

Dear Safalji is the lease rent of 7% at allotment rate is same for Allottees as well as transferee, who has purchased the plot on resale and also done transfer in his name after paying transfer fee. 

[urva malti]

Safalji can you elaborate the following charges:

6. Miscellaneous Expenses = Approximately Rs. 100 per sq mtr x 300 sq mtr = Rs. 30,000/-

With regards,

Urva Dutt

Sent from Yahoo Mail on Android