New Delhi : A recent draft notification for Gautam Budh Nagar district outlines significant hikes in circle rates, affecting property prices across Noida, Greater Noida, and Jewar. Under the proposal, high-rise apartments in Noida may see a 20% increase, while Greater Noida is set for a 30% hike. The most substantial rise is expected in agricultural land prices, with Jewar facing a 70% increase, Greater Noida nearly 50%, and Noida 40%.
According to Magicbricks Research, Noida and Greater Noida are already witnessing moderation in demand due to rising prices and limited supply. In Q1 2025 (Jan-March), Noida recorded a 12.5% quarter-on-quarter (QoQ) drop in residential demand, while Greater Noida saw a 10% decline in just three months. Meanwhile, property prices increased by 3.6% in Noida and 4.6% in Greater Noida, bringing the average price per square foot to INR 12,773 in Noida and INR 8,838 in Greater Noida.
Commenting on the same, Prasun Kumar, Chief Marketing Officer, Magicbricks said “In the short term, demand may rise as buyers rush to close deals before the new rates take effect. However, rising residential prices could temper demand in the long run due to affordability concerns. Additionally, every circle rate revision adds to the financial burden of homebuyers awaiting possession, as higher stamp duty and registration charges further strain end consumers.”
