New Delhi, April 1, 2025: 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.”
| Sector in Noida | Expected % Increase in the Total Transaction Cost for homebuyers
Source: Magicbricks Research |
| 14A | 3.58% |
| 15A | 5.27% |
| 44 | 3.92% |
| 62 | 5.39% |
| 75 | 3.83% |
| 100 | 5.70% |
| 137 | 5.68% |
| 144 | 4.70% |
Revised Circle Rate @ 20% appreciation
New Stamp Duty Considering a 1000 Sqft house basis the circle rate (8% including 1 % registry charges)
A noticeable decline in residential interest has also been observed by Magicbricks, around Jewar Airport, coinciding with a sharp rise in property prices. Magicbricks data from Q4 2024 (Oct–Dec) shows that:
- Zeta-Eta-Theta sectors saw a 48% year-on-year (YoY) drop in residential searches, while property prices surged 49% to an average of INR 7,858 per sq. ft.
- Yamuna Expressway areas recorded a 39% YoY decline in searches, with prices climbing 53%, averaging INR 7,218 per sq. ft.
- Omega-Chi-Phi sectors experienced a 37% YoY fall in searches, while prices rose 28%, reaching INR 9,706 per sq. ft.
- Premium locations such as Jaypee Greens (INR 12,434 per sq. ft.) and Alpha-Beta-Gamma-Delta sectors (INR 10,841 per sq. ft.) continue to command higher rates.
The proposed revisions also introduce “location-based” pricing, which accounts for proximity to key infrastructure. According to Magicbricks Research, for a 1000 sq ft apartment in these localities, the total transaction cost (property price + Stamp Duty) could increase by 1-1.5%.
