The Uttar Pradesh Stamp and Registration Department is likely to implement revised property circle rates (or ready reckoner rates) in Noida, in the new financial year, with increases ranging from 20 percent to 70 percent. Property prices in Gautam Budh Nagar which include Noida, Greater Noida, Jewar and the Yamuna Expressway region are expected to see a jump because of hike in circle rates.
Market observers say that an increase in circle rates results in higher stamp duty, thereby raising transaction costs for property buyers, particularly those with limited budgets already facing soaring property prices. Therefore, the proposed hike in circle rates will also have some impact on the sales in the near future because besides increased property rates home buyers will have to pay more stamp duty charges as well.
What is the circle rate?
Government-set circle rates dictate the minimum property valuation for calculating stamp duty and registration costs. Circle rates are generally revised every year but the Uttar Pradesh government has not increased the rates for the district in the last nine years.
Under circle rate revision, District Magistrates set the minimum per-hectare or per-square-meter prices for both agricultural and non-agricultural land. The circle rates issued by the district administration are called DM circle rates, and are separate from circle rates issued by the development authorities. In Gautam Budh Nagar there are three development authorities which include Noida Authority, Greater Noida Industrial Development Authority (GNIDA) and Yamuna Expressway Industrial Development Authority (YEIDA).
What is the proposed hike?
It is anticipated that circle rates in high-rise apartments in Noida will experience a 20 percent increase, while Greater Noida will see a 30 percent jump.
A proposed 20 percent increase in Noida's multi-story circle rates would raise the rates in upscale sectors like 14A, 15A, and 44 from the current Rs 1.03 lakh - 1.2 lakh per square meter to Rs 1.2 lakh-1.4 lakh per square meter, depending on road width.
The proposed revision in Greater Noida would raise condominium flat circle rates in sectors Alpha 1 and 2, Gamma 1 and 2, and Beta 1 and 2 from Rs 28,000-28,500 per sqm to Rs 36,400-37,050 per sqm. Property prices in Jewar region, where Noida International Airport is coming up, are expected to see a jump of a 70 percent hike in proposed circle rates.
Properties to get costlier, sales may suffer
Real estate experts said that the proposed increase in circle rates in Noida, Jewar and Greater Noida will further raise the overall cost of property acquisition for the homebuyers because with the increase in circle rates the stamp duty payable on property transactions will also go up.
Santhosh Kumar, Vice Chairman - ANAROCK Group, said that it will be in addition to the already increasing residential property prices by the developers in these regions.
According to ANAROCK Research, the average residential prices in Noida has seen a significant 92 percent jump between 2019-end to Q1 2025-end – from Rs 4,795 per sqft in 2019-end to nearly Rs 9,200 per sqft in Q1 2025-end.
Meanwhile, average prices in Greater Noida jumped up by 97 percent in the same period – from Rs 3,340 per sqft to around Rs 6,600 per sqft. This indicates the escalating price trend in the region.
“Therefore, the proposed hike in circle rates may have some impact on the sales in the near future because besides increased property rates home buyers will have to pay more stamp duty charges as well,” Kumar said.
Manoj Gaur, CMD Gaurs Group and Chairman, CREDAI National, said that while a revision after nine years is understandable, it is essential to consider the cumulative effect of previous increases by the Noida Authority.
“Adding the proposed revision of 20 percent will massively raise the total quantum. It will increase the prices, especially when the real estate sector is poised for a major leap and is contributing significantly to the district and state’s economy,” he said.
Homebuyers worried over circle rate hike
This development has caused worry among homebuyers as many of them have been waiting for years to get possession of their units.
Rajiva Singh, President, Noida Federation of Apartment Owners Associations, said that several homebuyers have been waiting for registrations and possession for over a decade now.
“Whenever the circle rates increase, such homebuyers get impacted as they would need to shell out more money towards stamp duty. Such home buyers should be charged circle rates which were prevalent at the time of booking and not the current rates,” Singh said.
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