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 in agricultural land prices is expected, with Jewar facing a 70% increase, Greater Noida nearly 50%, and Noida 40%.
According to Magicbricks Research, Noida and Greater Noida are already witnessing moderate 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 Rs 12,773 in Noida and Rs 8,838 in Greater Noida.
Prasun Kumar, Chief Marketing Officer of Magicbricks, said, "In the short term, demand may rise as buyers rush to close deals before the new rates take effect. However, due to affordability concerns, rising residential prices could temper demand in the long run. 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."
According to the research, the expected percentage increase in the total transaction cost for homebuyers varies across different sectors in Noida. In Sector 14A, the increase is projected to be 3.58%, while Sector 15A sees a higher rise of 5.27%. Sectors 44 and 62 are expected to experience increases of 3.92% and 5.39%, respectively. Sectors 75 and 100 are forecasted to have increases of 3.83% and 5.70%, while Sectors 137 and 144 have expected rises of 5.68% and 4.70%, respectively. These fluctuations highlight the varying impacts on transaction costs across different regional sectors.
The research highlighted a noticeable decline in residential interest around the Jewar Airport, coinciding with a significant rise in property prices. According to data from Q4 2024 (Oct-Dec), the Zeta-Eta-Theta sectors saw a 48% year-on-year (YoY) drop in residential searches, while property prices surged by 49%, averaging Rs 7,858 per sq. ft. Similarly, the Yamuna Expressway areas recorded a 39% YoY decline in searches, with prices climbing 53%, averaging Rs 7,218 per sq. ft.
The Omega-Chi-Phi sectors experienced a 37% YoY fall in searches, while prices rose by 28%, reaching Rs 9,706 per sq. ft. Premium locations, including Jaypee Greens (Rs 12,434 per sq. ft.) and Alpha-Beta-Gamma-Delta sectors (Rs 10,841 per sq. ft.), continue to command higher rates.
Additionally, the proposed revisions now introduce “location-based” pricing, which factors in proximity to key infrastructure. The research suggests that for a 1000 sq. ft. apartment in these localities, the total transaction cost (property price + stamp duty) could increase by 1-1.5%.
