India, March 28 -- Noida, Greater Noida, and Jewar are set to see a hike in circle rates ranging from 20% to 70%, effective April 1, marking the first increase in nearly nine years. This rise was anticipated, as it aims to close the gap between circle rates and actual market values in these regions following the sustained increase in land and property prices in these areas driven by ongoing infrastructure development. Real estate experts predict that the adjustment will result in higher stamp duty and registration costs for homebuyers, which could raise overall transaction expenses and potentially affect sales.

The proposed hike for high-rise apartments in Noida is expected to be 20%, while Greater Noida may see an increase of up to 30%....