Circle rates hiked by up to 20 pc in Ghaziabad

Buying a house or land in Ghaziabad has now become costlier as the District Magistrate approved new circle rates effective from today.
The rates have been hiked by up to 20 per cent.
Circle rate is the minimum rate at which a property can be bought or sold in a particular area or locality and prevents buyers and sellers from paying less stamp duty by showing reduced value of property deals.
As per officials of Ghaziabad district administration, selling or buying property in Rajnagar District Centre (RDC) would be very expensive across district as circle rate has been increased from Rs 1.20 lakh to Rs 1.40 lakh per sqm.

Officials said circle rates are fixed on property value in a particular area.
For instance, buying property in Indirapuram area will now cost Rs 60,000 per sqm, as opposed to Rs 50,000 per sqm earlier.
Buyers will now have to shell out Rs 46,000 per sqm in Raj Nagar followed by Rs 65,000 per sqm in Kaushambi area, Rs 40,000 per sqm in Gandhi Nagar and Rs 38,000 per sqm in Kavi Nagar area.