Circle rates in Noida to go up by 25% in April

The district administration is planning to hike circle rates by 25% to 30% from April. HT reports.

The district administration is planning to hike circle rates by 25% to 30% from April. The revised circle rates may not have a direct impact on property prices but the cost of registration is expected to go up, affecting the selling price of properties. “Circle rates are being revised and the new rates may come into effect from April,” said Vijay Deo Sharma, DIG (stamps).

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When the hike is in place, a person buying a 100-sqm plot will have to pay Rs 25,000 more by way of stamp duty. This will be a second setback to buyers after the development authorities in Noida and Greater Noida increased land allotment rates.