Circle Rate in Ghaziabad Jumps 15%, Housing Costs Skyrocket

Affordable housing in Ghaziabad is becoming a distant dream for the middle class as property prices continue to rise. With a significant 15% increase in circle rates coming into effect, buying a home in the city is set to become even more challenging for average buyers.

Starting this Wednesday, the most notable hike in the Circle Rate in Ghaziabad will impact areas like Wave City and Aditya World City along NH-9. In these regions, circle rates for residential plots will surge from ₹17,300 per sqm to ₹35,000 per sqm.

Circle Rate Hikes Across Key Locations in Ghaziabad:

• Indirapuram the circle rates have significantly increased from ₹58,000 per sqm to ₹95,000 per sqm.

• Kaushambiwill witness rates jumping from ₹64,000 per sqm to ₹1.03 lakh per sqm.

• Vaishali township rates have increased from ₹58,000 per sqm to ₹97,000 per sqm.

• Vasundhara has seen a substantial hike, with rates going from ₹52,000 per sqm to ₹80,000 per sqm.

The commercial sector hasn’t been spared either. The Circle Rate in Ghaziabad for commercial properties has increased from ₹1.08 lakh per sqm to ₹1.15 lakh per sqm. Ambedkar Nagar, a key commercial hub, has seen a rate hike from ₹1.38 lakh per sqm to ₹1.50 lakh per sqm. Agricultural land prices across Ghaziabad have also been raised by 10%.

Reasons for the Hike in Circle Rate in Ghaziabad:

Ghaziabad has seen considerable infrastructural improvements in recent years. Enhanced connectivity, including the operational Rapid Rail, expansion of metro services, and new expressways such as the Delhi-Dehradun Expressway, have contributed to rising market property rates. Pushpendra Kumar, AIG of the stamp and registration department in Ghaziabad, noted that these factors were behind the decision to raise the circle rates across all property types.

The government is optimistic about the revenue increase with the new rates in place. The stamp and registration department anticipates exceeding its fiscal revenue estimates, hoping to surpass last year’s revenue realization of 96% of the ₹3,104 crore target.

Conclusion: With the latest hike in the Circle Rate in Ghaziabad, the city’s real estate market continues to move out of reach for the urban middle class. Buyers now face steeper prices across residential, commercial, and agricultural properties, driven by the city’s growing infrastructure and increased market demand.

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