Attention Noida Residents: Circle Rates Expected to Rise by 25% This October—Is Your Dream Home About to Become More Expensive?

Noida is gearing up for a significant increase in property registration costs as new circle rates are set to be implemented by the end of October. The proposed rates, which could rise by 10% to 25%, have already been drafted and sent to the Noida, Greater Noida, and Yamuna Authorities for approval. This marks the first hike in circle rates in over five years, following a July board meeting that approved increased allocation rates. The new rates aim to reflect market conditions, and residents will have a brief period to raise objections before the final implementation.

Noida plans to implement new circle rates by the end of October, impacting property registration costs. Proposed increases range from 10% to 25%, with a focus on accurately reflecting market values. The new rates follow a July board meeting that approved increases in allocation rates for various property types. Circle rates have not been adjusted in over five years, making this a significant change for potential buyers.

Residents will have 7 to 15 days to object to the proposed rates after the authorities’ approval. The registration department currently charges approximately 6% of the property value for registration and stamp duty. Different categories, such as residential, industrial, and group housing, have seen varied allocation rate increases. This adjustment in circle rates is likely to affect the overall real estate market in Noida and surrounding areas.