The state government agency of Uttar Pradesh (UP) is planning to raise the prices of new houses and plots offered by ‘Uttar Pradesh Housing and Development Board (UPHDB)’ by 20% (approx.) in Ghaziabad and Loni from the financial year 2012. This increase in land cost will lead to increase in the prices of most of the housing board property by 10% to 16%. Areas close to Delhi will get most impacted with this price change.
The proposal to increase the property cost will soon be presented in front of the housing commissioner, if approved then the prices of new houses and plots offered by HPHDB will go up.
In last few years many new projects has been launched by private builders majorly Noida and Ghaziabad area and the prices of the residential property in these areas have almost doubled. If we see the current picture, the price of housing apartment in UPHDB scheme cost between 2000 to 2500 sq./ft. But the upcoming change in land cost will highly impact the rates of housing apartment which are constructed and sold by private builders under this scheme.
UP housing board had sold some Plots & semi furnished flats in recent past so the upcoming offering from UP board is going to be apartments which will directly be impacted with this change.
You can visit the official website of UP Housing & Development Board HERE