Thu Sep 12 06:21:51 UTC 2024: ## Ghaziabad Homebuyers Face Price Hikes as Circle Rates Surge 15%

**Ghaziabad, India -** The cost of owning a home in Ghaziabad has skyrocketed, with the Stamp and Registration Department announcing a 15% increase in circle rates effective Wednesday. This sudden jump in rates has significantly impacted property values, particularly in areas like Wave City and Aditya World City, where prices have more than doubled.

The increase, attributed to rapid infrastructural development including the new Rapid Rail line and upcoming expressways, has seen circle rates rise across the board. Residential plots in areas like Wave City, Aditya World City, and NH-9 saw a significant surge, with rates climbing from Rs 17,300 to Rs 35,000 per square metre.

Major areas like Indirapuram, Kaushambi, and Vaishali have also witnessed substantial increases. Indirapuram saw rates jump from Rs 58,000 to Rs 95,000 per square metre, Kaushambi went from Rs 64,000 to Rs 1.03 lakh per square metre, and Vaishali township from Rs 58,000 to Rs 97,000 per square metre.

Commercial properties and agricultural land have also become more expensive. Commercial properties in Indirapuram and Vaishali township now have a circle rate of Rs 1.15 lakh per square meter, up from Rs 1.08 lakh. Agricultural land across the district has seen a 10% increase.

“The city has undergone a significant infrastructural transformation in recent years,” explained Pushpendra Kumar, AIG Stamp and Registration Department Ghaziabad. “The growing market rates reflect this development, and the circle rate increase is a reflection of this.”

The revised circle rates are expected to bring in an additional Rs 125 crore in revenue for the government this financial year, according to department officials. Last year, Ghaziabad achieved 96% of its revenue target of Rs 3,104 crore.

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