Proposed Noida Circle rate hike to hit home buyers

Noida, Greater Noida, and Jewar will further raise the overall cost of property acquisition for homebuyers, in addition to the already rising residential property prices set by developers in these districts, experts said.

Builders said the authority should also consider that the real estate industry has entered a phase of consolidation and that prices have begun to plateau. «The proposed hike in circle rates may have some impact on sales in the near future because, besides increased property rates, homebuyers will have to pay more in stamp duty charges as well. The hike, however, seems inevitable, as real estate growth in these regions has been rapid over the last few years, and the government is increasing the circle rates in line with current property values,» said Santhosh Kumar, vice chairman of Anarock Group.

According to Anarock data, average residential prices in Noida have seen a significant 92% jump between the end of 2019 and the end of Q1 2025 — from ₹4,795 per sq ft in 2019 to nearly ₹9,200 per sq ft in Q1 2025. Average prices in Greater Noida have risen by a whopping 97% during the same period — from ₹3,340 per sq ft in 2019 to ₹6,600 per sq ft as of Q1 2025. «While the proposed hike aims to align circle rates with prevailing market prices, it should also consider that the market has entered a consolidation phase and prices are starting to stabilise,» said Amit Modi, director, County Group.

Manoj Gaur, CMD of Gaurs Group and Chairman of CREDAI National, said that while a revision after nine years is