The Gautam Budh Nagar stamps and registration department has increased the circle rates of residential sectors in Noida and Greater Noida by adding 5 percent additional stamps duty that will come in effect from August 1. The buyers of housing plots and group housing plots will now have to pay 5 % extra on per square meter. last year, the Administration had approved 10% hike in the residential category. However, the circle rates for flats have not been increased. The department has been taking this decision since 2012 with keeping in view of the heavily fall in the real estate sector.

It would provide relief to those buyers who have invested in the projects falling within the 10km radius of the Okhla Bird Sanctuary. Around 40,000 home buyers affected from Okhla Bird Sanctuary radius would be benefited from this decision as there is a probability to come a fresh notification by the Central Government in next few months to reduce its radius.

However, the department has increased in the circle rate of commercial properties falling only in sector-18, and sector-38 A, Noida. Meanwhile, the circle rates for industrial plots measuring less than 4,000 metres have also not hiked.

Gautam Budh Nagar DM NP Singh on Tuesday took a meeting with the official of stamps and registration department where they  approved the revised circle rates proposal. "We have approved the revise rate in the circle rates of all the properties. We have sought objection from the people of the district that will be considered if possible then it will be come in effect from August 1." said NP Singh, District Magistrate (DM),GB Nagar.

There are five categories of residential sectors (From A to E) in Noida where the circle rates in the sectors will now range from Rs35,000 to Rs90,500. last year, this figure was between from Rs35,000 and Rs86,000. There is no change in the residential sectors of last category (E) where Rs35000/ sqm will be applicable as like earlier.

However, with 20% hike, the commercial property cost of 10000 sqm to 100 sqm will now range from Rs 4.59 lakh to 4.75 lakh only for sector-18 and sector-38 A, Noida.