Circle Rates In Noida Set To Rise By 20-70% From April 1, First Hike In 9 Years
The proposed hike for high-rise apartments in Noida is likely to be 20%, while Greater Noida might get a 30% increase; agriculture land is also set to witness the hike in circle rates with Jewar seeing a 70% hike
The Uttar Pradesh Stamp and Registration Department is set to revise upwards the property circle rates in Noida between 20 per cent and 70 per cent with effect from April 1, 2025. The proposed hike for high-rise apartments in Noida is likely to be 20 per cent, while Greater Noida might get a 30 per cent increase.
Agriculture land is also set to witness the hike in circle rates with Jewar (where Noida International Airport is set to be operational from May this year) seeing a 70 per cent hike, Greater Noida a 50 per cent jump, and Noida a 40 per cent rise, according to Hindustan Times report.
related stories
Circle rates are the minimum value of assigned to properties for the calculation of stamp duty and other fees during the registration.
According to a Times of India report, the Noida administration has allowed for feedback till April 5. The admin released the proposed valuation list for properties under the Uttar Pradesh Stamp (Valuation of Properties) Rules on Wednesday.
This is for the first time in nine years (since 2016) the circle rates are being revised in UP. Generally, circle rates are revised annually and implemented from August 1.
According to Assistant Inspector General-2 Brijesh Kumar, as cited by TOI, the cost of flats in Noida and Greater Noida has surged significantly in the past decade but the stamp duty collected is much lower.
“The rates have been revised to close this gap," Kumar was quoted as saying by TOI.
After the proposed 20 per cent circle rate hike, in premium sectors like 14A, 15A, and 44, the current rates, which range between Rs 1.03 lakh to Rs 1.2 lakh per square meter, depending on road width, will rise to Rs 1.2 lakh to Rs 1.4 lakh per square meter.
In Greater Noida, circle rates for flats in condominiums in sectors Alpha 1, Alpha 2, Gamma 1, Gamma 2, and Beta 1, Beta 2 will increase from the current range of Rs 28,000 to Rs 28,500 per sqm to Rs 36,400 to Rs 37,050 per sqm.
Additionally, Uttar Pradesh (UP) has proposed a “location" charge:
- 5% for properties near metro stations
- 7.5% for sectors adjacent to expressways
- 12.5% for commercial use and EWS/Shramik Kunj buildings
Construction rates are also set to increase by around 30%, according to TOI.
For non-agricultural land, Noida will witness a 20% rise, while Greater Noida and Greater Noida West will see a 25% increase.
According to the TOI report, for agricultural land, Noida’s circle rate will go up 40%, while Greater Noida will see a 50% hike. In Dadri, Sadar Greater Noida, and Jewar, agricultural land near populated areas and roads will get a 25% rise. Moreover, commercial properties in Greater Noida’s villages are also expected to face a 25% increase.
What Real Estate Players Say
Amit Modi, director of County Group, said, “At first glance, the 20% circle rate hike proposed by the Noida District after 9 years is a welcome step. While it purports to align the circle rate with the prevailing market prices, it should also take into account that the realty market has entered a phase of consolidation and that prices have also begun to plateau."
Moreover, the District Administration, while finalising the circle rate, should also consider similar hikes by the Noida Authority in the last few years and their sum total impact on the sector, he added.
Manoj Gaur, chairman and managing director of Gaurs Group and chairman of CREDAI National, said, “We welcome the Noida District Administration’s decision calling for public views on the proposed circle rate hike. 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% 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. However, as this hike has been proposed by the district administration after a long gap of 9 years, the sector is of the view that the quantum of increase could be in moderate numbers in the overall interest of the economy, he added.
- Location :
- First Published: