GHAZIABAD: Anticipated property price hikes in the city may see increases of up to 40% as the district administration prepares to revise rates later this year. Draft estimates suggest residential plot prices could rise by 5-15%. Should this move be approved, the cost for a residential plot at Crossings Republik will increase to Rs 31,000 per square metre from the current Rs 27,000.
Flats in multi-storey buildings are projected to become 10-40% more expensive, with steeper increases of 35-40% expected in major townships like Wave City Centre, Aditya World City, and others. In Wave City, flat prices are expected to jump from Rs 74,000 per sqm to Rs 93,000 per sqm.
The price of retail spaces in malls is set to increase from Rs 82,800 per sqm to Rs 1 lakh per sqm, marking a 15% rise. Agricultural and commercial plots may see increases of 15% and 25%, respectively. A proposed 15% increase also applies to industrial zones such as Kavi Nagar Industrial Area and Durga Enterprises, with properties in UPSIDC’s Industrial Area Site-2 and along NH-24 facing significant increases of around 18-20%.
In trans-Hindon areas, land prices in Indirapuram may rise from Rs 85,000 per sqm to Rs 98,000, while Vasundhara’s rates could climb from Rs 72,000 to Rs 83,000 per sqm. In localities like Vaishali and Chandra Nagar, a rise from Rs 87,000 to Rs 1 lakh per sqm is suggested, with some areas near Kanawani potentially seeing up to a 30% increase to align with market prices.
In Rajnagar Extension, the price for flats could increase by Rs 7,000 per sqm from Rs 35,000, and in Siddharth Vihar, by Rs 16,000 from Rs 52,000. Commercial centers are also expected to see substantial hikes, with RDC rates rising from Rs 1.7 lakh to Rs 2.04 lakh per sqm, and Ambedkar Nagar from Rs 64,000 to Rs 74,000 per sqm.
Additionally, Wave City township mall properties are now pegged at Rs 2.2 lakh per sqm, which were not previously listed, while the proposed rate at Crossings Republik is Rs 1.13 lakh per sqm. Officials indicate these new rates will significantly influence property transactions as circle rates underpin stamp duty and registration fees. “Buyers pay duty on the higher of the circle rate or market value; thus, any increase directly impacts property costs,” explained Assistant Inspector General Pushpendra Kumar.
The last revision in September 2024 resulted in an average increase of 15% across all property categories. Prior to that, Ghaziabad’s circle rates remained unchanged for two consecutive financial years—2022-23 and 2023-24.
District Magistrate Ravindra Kumar Mandar stated that residents can voice objections to the proposed rates until September 30 at tehsil or sub-registrar offices. Feedback will be discussed in a meeting slated for October 4. “This revision is part of an annual effort to keep government valuations realistic, and public suggestions will be taken into account before the final notification,” he noted.
