India, March 17 -- As property rates continue to rise in Noida, Greater Noida, and along the Yamuna Expressway, the Uttar Pradesh stamp and registration department is considering an increase in circle rates from April 1, particularly for residential and agricultural land. This has raised concerns among homebuyers, many of whom have been waiting for possession of their properties for years, a report published in the Hindustan Times said.

A circle rate, or ready reckoner rate, is the minimum price at which the property sale is registered. This rate is determined by the state government and is generally reviewed to ensure that it is in line with the market rate. In the event of a property being bought or sold, the stamp duty and the registr...