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New circle rates in Ghaziabad soon. Here’s what property buyers need to know
The Ghaziabad district administration invited objections until Sep 30 after proposing a hike in circle rates. Experts say property prices may go up by 40%
The new circle rates for Ghaziabad for 2025-2026 are set to be finalised in the next week after the Ghaziabad district administration (GDA) reviews close to 50 public objections to the proposed circle rates announced on September 14, officials told the Hindustan Times newspaper.
According to the proposed circle rates, apartments in multi-storied buildings are likely to become expensive by almost 10-40% depending on the location. Flats in township projects such as Wave City may go up from ₹74000 per sq m to almost ₹93000 per sq m. In Siddharth Vihar, the rates may increase from ₹52000 per sq m to ₹68000 per sq m.
At Crossings Republik, the proposed rate is ₹1.13 lakh per sq m In areas such as Indirapuram, land rates may be hiked from ₹85000 per sq m to ₹98000 per sq m and in areas such as Vasundhara, the circle rates may go up from ₹72000 per sq m to 83000 per sq m, as per a report published in the paper earlier.
The administration had invited public objections until September 30 after proposing a hike in circle rates. Circle rates are the minimum values set by the government for specific areas, representing the legal threshold for property transactions.
As part of the process, a survey of existing circle rates and market rates was assessed by eight sub-registrars. An average hike of 15-20% was announced in rates of residential properties, a 20% hike in commercial properties, and a 10-15% hike in the case of agricultural land, the newspaper report said.
Assistant inspector general (AIG – stamps), Pushpendra Kumar, told the Hindustan Times newspaper that “Till the end of the public objection stage on September 30, we received about 50 different objections where the public demanded a reduction in rates while others demanded a further hike. In areas like Modinagar and behind the Wave City, people have asked us to reduce the rates, while in city areas, they have asked for a hike in rates.”
Officials told the newspaper that their intent is to bring the circle rates of properties at par with the prevailing market rates.
“We have also received objections from farmers of villages whose land will be acquired by the Ghaziabad Development Authority for their proposed Harnandipuram Township. These farmers have demanded that circle rates of their villages be hiked. Overall, the 50 objections will be disposed of in a couple of days, and the circle rates for FY 2025-26 will be finalised in another 2-3 days thereafter,” Kumar added.
Also Read: Ghaziabad real estate: 7,000 sq ft penthouse in Indirapuram sells for ₹10 crore
GDA’s Harnandipuram township is proposed over an area of 521 hectares on land of eight villages of Mathurapur, Shamsher, Champat Nagar, Bhaneda Khurd, Nagla Firoz Mohanpur, Bhovapur, Shahpur Nij Morta, and Morta, the paper said.
The rates for direct purchase were finalised on the basis of the September, 2024 circle rates of eight villages. Later, on August 8, the GDA had also asked the registration department not to hike the rates of agricultural land in villages, the report said.
