September 19, 2024: Property buyers may now have to spend more when purchasing a property in Ghaziabad as the district administration will be revising the circle rates by up to 40% later this year. The draft plan is aimed at closely aligning the government’s property valuations with the current market prices.
The revision of circle rates is expected to have a direct impact on homebuyers. The circle rates or the actual market price of a property are considered for the calculation of stamp duty and registration charges. Thus, the revision is likely to increase the total cost of property purchase.
The last revision was made by the Ghaziabad district administration in September 2024 with an average increase of 15% across all property categories. Prior to that, circle rates in Ghaziabad remained unchanged for two consecutive financial years – 2022-23 and 2023-24.
Prices of residential plots and flats are set to see a steep rise
According to the draft, prices of residential plots in areas such as Crossings Republik are expected to increase by 5% to 15%. On the other hand, prices of flats in multi-storey buildings are likely to see an increase of 10% to 40%, depending on the property location. Moreover, there is likely to be steeper price hike in large townships in Ghaziabad such as Wave City Centre, Aditya Wrold City, Jaipuria Township, Urban Homes and Park Town. Within Wave City, prices of flats may increase from Rs 74,000 to Rs 93,000 per square metre, according to a TOI report.
As per the media report, land rates in trans-Hindon city areas such as Indirapuram land may increase from Rs 85,000 per sqm to Rs 98,000. Circle rates in Vasundhara may go up from Rs 72,000 per sqm to Rs 83,000 per sqm. Circle rates in Vaishali, Ramprastha, Surya Nagar and Chandra Nagar are expected to be revised from Rs 87,000 to Rs 1 lakh per sqm. The revision could be up to 30% in some localities near Indirapuram to prevailing market price. The prices of residential properties in Rajnagar Extension may rise by Rs 7,000 per sqm from Rs 35,000 and in Siddharth Vihar by Rs 16,000 from Rs 52,000.
Commercial and industrial hubs to see a significant price increase


Apart from the residential segment, the circle rate revision will also impact the commercial and industrial segments. Circle rate in Nehru Nagar and Rakesh Marg is likely to increase from Rs 1.4 lakh per sqm to Rs 1.6 lakh per sqm. In RDC, the hike will range from Rs 1.7 lakh to Rs 2.04 lakh per sqm, while in Ambedkar Nagar, the rates will increase from Rs 64,000 per sqm to Rs 74,000 per sqm.
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