GHAZIABAD: Property prices in Ghaziabad may be set for another rise, as the district administration has begun a review of circle rates, potentially leading to adjustments later this year.
District Magistrate Deepak Meena has instructed the stamp and registration department to perform a detailed analysis of government-notified land values, which are used to determine stamp duty. The findings are expected to be submitted within 15 working days.
During a review meeting on Friday, Meena emphasized, “The survey needs to thoroughly evaluate all key factors affecting prices in residential, commercial, and agricultural areas. Any revisions will be based on these findings.”
Assistant IG Pushpendra Kumar confirmed that the survey is already in progress, stating, “We’re collecting data from the ground to assess whether a revision is warranted this year.”
The last adjustment in September 2024 resulted in an average increase of 15% across all property types. Prior to that, circle rates in Ghaziabad had remained stable for two consecutive financial years—2022-23 and 2023-24.
Currently, homebuyers in Indirapuram face a stamp duty of Rs 95,000 per sqm, an increase from Rs 58,000 the previous year. In Kaushambi, the rate is Rs 1.03 lakh per sqm (up from Rs 64,000 in 2022-23), while in Vaishali township, it stands at Rs 97,000 per sqm (an increase from Rs 58,000), and in Vasundhara, Rs 52,000 per sqm (up by Rs 28,000).
Officials noted that the 2024 increase aimed to bridge the gap between circle rates and actual market values.
According to data from the stamp and registration department, Ghaziabad saw approximately 1.31 lakh property registrations in the 2024-25 fiscal year, leading to a record revenue of Rs 2,856 crore—92% of its Rs 3,104 crore target. This strong performance was attributed to the revised circle rates and higher transaction volumes.
While the administration seeks to align rates with market realities, it faces significant public pressure to avoid exacerbating financial burdens. Recently, the Ghaziabad Municipal Corporation (GMC) repealed a controversial property tax increase following backlash from resident welfare associations and business groups, who argued that the rate had surged by about 10% in FY 2023-24 and again by three to four times in the current financial year, contravening municipal guidelines that permit tax hikes only once every two years.
