Circle Rate in Ghaziabad to Increase by 20%: First Revision in Two Years

Circle Rate in Ghaziabad: Next month, there will probably be a 20% hike in the city's circular rate for both residential and commercial buildings. After conducting a survey, the stamp and registry department is preparing a plan that will be presented to the district magistrate for approval.

A higher circle rate will result in greater stamp duty costs for home buyers, which will raise the cost of real estate generally.

Pushpendra Kumar, the AIG stamp and registration department head, informed TOI on Tuesday that during the last two years, the city's infrastructure has changed in terms of connection.

In October 2023, the Delhi-Meerut rapid rail system went into service. Currently, around 50% of the line is open for commercial use.

We already have many motorways and metro links. There are plans to build more motorways, like the Delhi-Dehradun one. The market value of the properties along these corridors has increased, according to a recent government survey. We have suggested raising the DM circle rate by 20% for both residential and commercial categories in order to capitalise on the expanding market," the official stated.

Before the new prices take effect, the public must be given the opportunity to voice any objections and provide input, if approved by the DM.

In the district, the circle rate increased by almost 20% during the most recent fiscal year, 2022–2023. Because the market rate did not increase correspondingly, the rate stayed the same for the next two fiscal years.

Once the proposed hike takes effect, the circular rate in Indirapuram and Vaishali is expected to rise sharply from the current Rs 58,000 per sqm to Rs 11,600 per sqm. The tariff at Crossings Republik would increase from the existing Rs 38,000 per sqm to Rs 7,600 per sqm. The current circle fee in Wave City and Sun City is Rs 26,400 per square metre.

The current circle rates in the commercial category are Rs 78,000/sqm in Rakesh Marg and Nehru Nagar, Rs 84,000/sqm in Sahibabad, Rs 96,000/sqm in Ambedkar Nagar, and Rs 1.68 lakh/sqm in the RDC area.

The rate is expected to increase by Rs 15,600/sqm in Rakesh Marg and Nehru Nagar, Rs 16,800/sqm in Sahibabad, Rs 19,200/sqm in Ambedkar Nagar and Rs 33,600/sqm in RDC area as a result of the planned raise.

Properties near the quick rail route in Vasundhara and Siddharth Vihar saw an increase in pricing in June of last year following the UP Housing Board's hike in circular rates in townships under its administration throughout the state.