Gautam Budh Nagar may increase property circle rates significantly

The Uttar Pradesh stamp and registration department is considering a significant increase in circle rates for properties in Gautam Budh Nagar, potentially rising by 30% to 70%. This change is expected to take effect on April 1. The proposed hike aims to align circle rates with the current market rates, which have surged due to rising property prices and the development of the Noida International Airport. Circle rates have not changed since 2019. Homebuyers are concerned about the financial impact of higher stamp duties and registration costs, especially those waiting for property possession. They are calling for relief measures, such as applying old rates for delayed projects.