Curation Team
GHAZIABAD: Property prices in the city may be headed for another increase, with the district administration initiating a fresh review of circle rates that could lead to a revision later this year.
DM Deepak Meena has directed the stamp and registration department to conduct a detailed survey assessing whether the govt-notified land values, used to calculate stamp duty, require revision. The report is to be submitted within 15 working days.
“The survey must comprehensively assess all key factors impacting prices across residential, commercial, and agricultural segments,” Meena said at a review meeting on Friday. “A decision on revision will follow the findings.”
Assistant IG Pushpendra Kumar told TOI that the survey is already underway. “We are gathering ground-level data to determine if a revision is justified this year,” he said.
The last revision, in Sept 2024, saw an average 15% increase across all property categories. Before that, circle rates in Ghaziabad had remained unchanged for two consecutive financial years—2022-23 and 2023-24.
Currently, homebuyers in Indirapuram pay Rs 95,000 per sqm in stamp duty, which was Rs 58,000 per sqm the year before. In Kaushambi, the rate is Rs 1.03 lakh per sqm (up from Rs 64,000 in 2022-23), while in Vaishali township it is Rs 97,000 per sqm (against the previous Rs 58,000 per sqm) and Vasundhara Rs 52,000 per sqm (pricier by Rs 28,000 per sqm).
Officials said the 2024 hike was implemented to narrow the gap between circle rates and actual market values.
According to stamp and registration department data, Ghaziabad recorded around 1.31 lakh property registrations in the 2024-25 financial year. The department also reported its highest-ever revenue collection—Rs 2,856 crore—achieving 92% of its Rs 3,104 crore target. Officials had then attributed the strong performance to the 2024 circle rate revision coupled with increased transaction volumes.
While the administration is keen to keep rates in line with market realities, it faces growing public pressure to avoid adding financial strain. Earlier this week, the Ghaziabad Municipal Corporation (GMC) rolled back a contentious property tax hike after widespread opposition from RWAs and business groups claiming the rate was increased by 10% in FY 2023-24, and again in the current financial year by about three to four times. They pointed out that as per municipal rules, GMC could hike property tax once every two years.
