DM: New circle rates in Greater Noida only after consulting stakeholders

According to the proposed revised rates, the circle rate for high-rises in Greater Noida and Greater Noida (West) will go up by 30%. While a hike of 15% is proposed for office plots, it will be a 10% increase for resale of plots in other categories that includes residential, group housing, industrial and commercial buildings.

“We are compiling objections from stakeholders. The final rates will be announced only after consultation,” said District Magistrate Manish Kumar Verma.

He added that major objections have been received either from people who have already deposited the money to book flats or those who have already bought apartments but are yet to register their property. “They don’t want to get the registration done as per the new rates. There are also people who object to the proposed rates because they think it is too high,” he said.

Joginder Singh, the former president of Apartment Owners Association at Amrapali Zodiac, has filed a 12-page objection to the administration’s plan to hike the circle rate. “The registration of several group housing projects in the district have been pending since 2013. This delay is the fault of the (Noida and Greater Noida) authorities and the builders. And because of this (delay), buyers don’t have the ownership of their flats even as they have already paid for them,’’ he said. “In these circumstances, the increase in circle rates will be unjust and inappropriate.”

Assistant Inspector General, Registration (Stamp and Registry), B S Verma, however, insisted that the rise in circle rates may not affect the flat buyers but tackle the corruption that has been going on for years. “It will increase revenue collection and document every transaction. The buyer will be at an advantage in case of any conflict with the builder. The buyer has to pay much more than what the builder shows on paper to save the stamp duty. The buyers are forced to pay in black.”

He also said that the Stamps and Registration department has seen an 18% increase in revenue collection in 2024-25. “Our target was Rs 4,880 crore and we collected Rs 4,230 crore. The proposed rates, if implemented, will be beneficial for the common public and will contribute to an increase of 15% to 20% in the annual revenue of the district,” he added.

Verma said the circle rates should be revised annually but have been stagnant since 2016. “The cost of flats, especially in Noida and Greater Noida, has increased nearly three times to what it was in 2016, In comparison, the stamp duty is much lower. The new rates will close this gap.”