Ghaziabad increases circle rates, homes to get costlier

As per reports, the Stamp and Registration Department officials said they expect the revised circle rates will generate an additional revenue of Rs 125 crore this financial year.

September 13, 2024: Purchasing a property in the NCR town of Ghaziabad will get costlier as the Ghaziabad district administration has notified the hiked circle rates for the financial year 2024-25. The new rates have been increased by 10-20% for residential properties, 15-20% for commercial properties and a 10% hike for all agricultural properties, officials said, as cited in media reports.

The Stamp and Registration Department has revised the circle rates after two years since 2022. The previous average increase was about 10-12% in 2022-23.

 

Circle rates increase in key localities

Locality Previous Circle Rate (per sqm) New Circle rate (per sqm)
Indirapuram Rs 58,000 Rs 95,000
Kaushambi Rs 64,000 Rs 1.03 lakh
Vaishali Rs 58,000 Rs 97,000
Vasundhara Rs 28,000 Rs 28,000

Circle rates have almost doubled in Wave City and Aditya World City along NH-9. The circle rate for residential plots will increase from Rs 17,300 per sqm to Rs 35,000 per sqm.

On the other hand, the circle rates of commercial properties in Indirapuram and Vaishali townships have increased to Rs 1.15 lakh per sqm from Rs 1.08 lakh per sqm. In Ambedkar Nagar, a prominent commercial hub, the circle rates of commercial properties have increased from Rs 1.50 lakh per sqm to Rs 1.38 lakh per sqm.

In Jagjivanpuram village, circle rates for agricultural land have increased to Rs 70 lakh per hectare from Rs 1.07 cr per hectare. In Noornagar village, the new circle rate is Rs 21.7 cr per hectare.

As per reports, the Stamp and Registration Department officials said they expect the revised circle rates will generate an additional revenue of Rs 125 crore this financial year. In the previous financial year, the state government had set a revenue target of Rs 3,104 crore for Ghaziabad, of which 96% was achieved.

 

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com
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