Circle Rate Hike in Noida: The UP government is going to increase the circle rate in Gautam Buddha Nagar after about 9 years. Its effect will be seen on house buyers as well as office and land buyers. Its effect will also be seen on those buyers who had already made bookings.
If you are also thinking of buying property, house or land around Noida, Greater Noida or Jewar Airport, then increase the budget. The UP government is going to increase the circle rate in Gautam Buddha Nagar district soon, after which there is bound to be a big jump in property prices. The government has decided to increase different circle rates for flats, land and commercial properties. Obviously, there will be different types of jump in the prices of these properties.
The UP Stamp and Registration Department is likely to implement revised property circle rates in Noida in the new financial year, which may increase from 20 per cent to 70 per cent. Property prices in Gautam Buddha Nagar, which includes Noida, Greater Noida, Jewar and Yamuna Expressway areas, are expected to increase due to the increase in circle rates.
Stamp duty will increase
Market experts say that the increase in circle rate increases the stamp duty, which increases the cost of transaction for property buyers. Especially for those whose budget is already limited and who are facing rising property prices. Therefore, the proposed increase in circle rate will also have some impact on sales in the near future, because apart from increased property prices, home buyers will also have to pay more stamp duty charges.
What is circle rate?
The circle rates set by the government determine the minimum valuation of a property, from which the stamp duty and registration cost are derived. Circle rates are usually revised every year, but the UP government has not increased the rates for Gautam Buddha Nagar district for the last nine years. Under the change, the district magistrate fixes minimum prices per hectare or per square metre for agricultural and non-agricultural land. The rates issued by the district administration are called DM circle rates and are different from the circle rates issued by development authorities.
How much will the circle rate increase
The circle rate of high-rise buildings in Noida is likely to increase by 20 per cent, while Greater Noida will see a 30 per cent increase. The proposed 20 per cent increase in Noida’s multi-storey circle rate will increase the current rates in high-end sectors like 14A, 15A and 44 from Rs 1.03 lakh – Rs 1.2 lakh per sq m to Rs 1.2 lakh – Rs 1.4 lakh per sq m. The proposed amendment in Greater Noida will increase the circle rate of condominium flats in Sectors Alpha 1 and 2, Gamma 1 and 2, and Beta 1 and 2 from Rs 28,000-28,500 per sq m to Rs 36,400-37,050 per sq m. In the Jewar area, where the Noida International Airport is coming up, property prices are expected to increase by 70 per cent in the proposed circle rate.
House prices will increase
Real estate experts say that the proposed increase in circle rates in Noida, Jewar and Greater Noida is sure to increase the burden on home buyers. The increase in circle rates will also increase the price of stamp duty on property transactions. Santosh Kumar, Vice Chairman of property advisory firm ANAROCK, said that developers are already increasing residential property prices in these areas and now the increase in circle rates will also have an impact.
Where and how much has the price increased
According to ANAROCK Research, average residential prices in Noida have seen a significant increase of 92 per cent from the end of 2019 to the first quarter of 2025. The price here has increased from Rs 4,795 per sqft at the end of 2019 to around Rs 9,200 per sqft by the end of the first quarter of 2025. Average prices in Greater Noida have increased by 97 per cent in the same period, from Rs 3,340 per sqft to Rs 6,600 per sqft. Manoj Gaur, CMD of Gaur Group and Chairman of CREDAI National, says that the proposed 20 per cent increase will lead to a huge increase in the overall prices, which have already doubled.
Home buyers’ concerns have increased
This increase in circle rate has also increased the concerns of home buyers. Rajiv Singh, President of Noida Federation of Apartment Owners Associations, said that many home buyers have been waiting for more than a decade for registration and possession. Whenever the circle rate increases, such home buyers are also affected, because they have to pay more money for stamp duty. Therefore, such buyers should be exempted from circle rate, who have already made bookings and after possession they have to get registration done. This rule should be changed.
