ghaziabad the uttar pradesh housing board has hiked the circle rates for residential and commercial plots in all sectors of vasundhara the revised circle rates which came into effect from april 1 2017 have been hiked by approximately 16 the stakeholders whom are builders in this case criticised the hikeaccording to the uttar pradesh housing boards superintendent engineer k s singhal under the residential category circle rates have been hiked from rs 42000 per square metre to rs 48800 per sq m in evennumbered sectors a rise of 16similarly in oddnumbered sectors the rate for residential plots has been hiked from rs 38000 per sq m to rs 44100 per sq m 16in the commercial plot category the new circle rate in evennumbered sectors is up to rs 97600 per sq m from rs 84000 per sq mm 161 singhal said again in oddnumbered sectors the new circle rate is rs 882000 per sq m as against the previous rate of rs 76000 per sq m 16 under the commercial plot category singhal saidthe housing boards move to increase circle rates has drawn sharp criticism from stakeholders terming the hike illogical they said it would affect the real estate market in the area which is already in a slump nowmanoj gaur vicepresident credai national and md of gaursons says this is completely ill advised move which will have adverse bearing on real estate market which is still trying to recover from the slump at a time when there is no buyers in the market the circle rates should be left untouched if not lowered which could have enabled more buyers to buy property but with the hike in circle rates this will further discourage buyers gaur saidsatnam singh managing director of apex buildcon pvt ltd too has criticised the housing boards move circle rate hike in vasundhara i have a couple of projects in vasundhara and it is surprising that when gurgaon and delhi are slashing circle rates in view of the sluggish real estate market the up housing board is increasing themwhen asked if it would affect smalltime buyers satnam singh said it will have a minimal affect on smalltime buyers as the district magistrates circle rate is applicable to the buyers of flats which is already high at present it is rs 52000 per sq m singh said the extra burden of the housing boards hiked circle rates will be borne by the builder alone who will be shelling out more to the board while buying plots