Table of Contents
- What is the Circle Rate in Delhi?
- Difference Between Circle Rate and Market Rate in Delhi
- Delhi Circle Rate 2024
- Delhi Circle Rate For Residential and Commercial Plots in 2024
- Category wise Circle Rates in Delhi Localities
- Circle Rate Age Factor In Delhi
- How is Circle Rates Calculated in Delhi?
- Impact of Circle Rates on Property Prices
- Staying Informed on Circle Rate Updates
- How To Check Circle Rate Updates for Delhi ?
- Conclusion
- Faq's
The circle rate in Delhi is a crucial concept for both buyers and sellers in the real estate market.
It represents the minimum valuation set by the government for property transactions in the city.
Understanding how circle rates work and how they are calculated is essential for making informed decisions when buying or selling a property in Delhi.
In this article, we will discuss in detail about the updated circle rates in Delhi for 2024, how circle rate is calculated, the key differences between circle rate and market rate, Impact of circle rate on property prices and more.
What is the Circle Rate in Delhi?
The circle rate in Delhi is the minimum price at which a property can be registered with the government.
It is determined by the Delhi government and is reviewed periodically to ensure it aligns with the prevailing market rates.
The circle rate serves as the base price for calculating stamp duty and registration charges for property transactions.
Please Note: Circular rates in Delhi were last revised in 2014.
Also Read: Delhi Bhulekh Land Records: Things You Need To Know
Difference Between Circle Rate and Market Rate in Delhi
Circle Rate and Market Rate in Delhi
The key differences between circle rate and market rate in Delhi are:
Circle Rate in Delhi:
The circle rate is the minimum valuation set by the Delhi government for property transactions.
It serves as the base price for calculating stamp duty and registration charges for property sales.
Circle rates in Delhi are categorized from A to H based on factors like location, infrastructure, and amenities. Properties in more affluent areas have higher circle rates.
The circle rate is calculated by multiplying the property's built-up area by the applicable rate per square meter or square foot, factoring in the property's age.
Market Rate in Delhi:
The market rate is the actual price at which properties are bought and sold in the real estate market.
Market rates are influenced by factors like property size, amenities, and location, and are generally higher than the corresponding circle rates.
Builders rarely sell properties at the circle rate as it would result in substantial losses. Properties are typically unavailable at the circle rate.
The market rate provides insight into the real estate value appreciation within a specific area.
In summary, the circle rate is the minimum government-set valuation, while the market rate is the actual price determined by market forces, which is usually higher than the circle rate. Understanding this difference is crucial for buyers and sellers in the Delhi real estate market.
Also Read :DDA Housing Scheme: Application, Eligibility, Flat Price 2024
Delhi Circle Rate 2024
Circle Rate of Built-up flats of upto 4 storey
Area | DDA, Society Flats (per sqm) | Private Builder Flats (per sqm) | Multiplying Factors for Private Colonies |
Up to 30 sqm | Rs 50,400 | Rs 55,400 | 1.1 |
30-50 sqm | Rs 54,480 | Rs 62,652 | 1.15 |
50-100 sqm | Rs 66,240 | Rs 79,488 | 1.2 |
Over 100 sqm | Rs 76,200 | Rs 95,250 | 1.25 |
Multi-storey apt. | Rs 87,840 | Rs 1.1 lakh | 1.25 |
Delhi Circle Rate For Residential and Commercial Plots in 2024
This table categorises different land costs and construction costs (both residential and commercial) per square meter under different categories.
Category | Land Cost (per sqm) | Construction Cost: Residential (per sqm) | Construction Cost: Commercial (per sqm) |
A | Rs 7.74 lakh | Rs 21,960 | Rs 25,200 |
B | Rs 2.46 lakh | Rs 17,400 | Rs 19,920 |
C | Rs 1.6 lakh | Rs 13,920 | Rs 15,960 |
D | Rs 1.28 lakh | Rs 11,160 | Rs 12,840 |
E | Rs 70,080 | Rs 9,360 | Rs 10,800 |
F | Rs 56,640 | Rs 8,220 | Rs 9,480 |
G | Rs 46,200 | Rs 6,960 | Rs 8,040 |
H | Rs 23,280 | Rs 3,480 | Rs 3,960 |
Category wise Circle Rates in Delhi Localities
Area | Land Cost per sqm | Construction Cost: Residential (per sqm) | Construction Cost: Commercial (per sqm) |
Lodi Road Industrial Area | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Maharani Bagh | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Nehru Place | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
New Friends Colony | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Panchshila Park | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Rajendra Place | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Shanti Niketan | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Sunder Nagar | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Vasant Vihar | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Anand Niketan | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Basant Lok DDA Complex | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Bhikaji Cama Place | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Friends Colony | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Friends Colony East | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Friends Colony West | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Golf Links | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Kalindi Colony | Rs 7.74 lakh | Rs 21,960 | Rs 21,960 |
Anand Lok | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Andrews Ganj | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Defence Colony | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Greater Kailash I | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Greater Kailash II | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Greater Kailash III | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Greater Kailash IV | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Green Park | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Gulmohar Park | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Hamdard Nagar | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Hauz Khas | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Maurice Nagar | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Munirka Vihar | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Neeti Bagh | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Nizamuddin East | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Pamposh Enclave | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Panchsheel Park | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Safdarjang Enclave | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Sarvapriya Vihar | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Sarvodaya Enclave | Rs 2.46 lakh | Rs 17,400 | Rs 17,400 |
Civil Lines | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
East of Kailash | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
East Patel Nagar | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Jhandewalan Area | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Kailash Hill | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Kalkaji | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Lajpat Nagar I | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Lajpat Nagar II | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Lajpat Nagar III | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Lajpat Nagar IV | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Malviya Nagar | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Masjid Moth | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Munirka | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Nizamuddin West | Rs 1.60 lakh | Rs 13,920 | Rs 13,920 |
Circle Rate Age Factor In Delhi
Here is the table representing the age factor for circle rates:
Age Factor | Circle Rate |
Before 1960 | 0.5 |
1960-1969 | 0.6 |
1970-1979 | 0.7 |
1980-1989 | 0.8 |
1990-1999 | 0.9 |
After 2000 | 1 |
How is Circle Rates Calculated in Delhi?
Circle Rate Calculation Delhi
The circle rate in Delhi is calculated based on various factors such as the type of land, area covered, number of floors, amenities, and the age of the property. Commercial properties generally have a higher circle rate compared to residential properties.
The circle rate is determined by multiplying the property's built-up area by the applicable rate per square meter or square foot, taking into account the property's age.
New Delhi circle rates may vary based on the type of property and the construction date.
The Delhi government has divided the city into eight categories, labeled A through H, based on factors such as location, infrastructure, and amenities.
Properties in more affluent and well-developed areas are classified under the higher categories (A-C), while those in less developed neighborhoods fall under the lower categories (D-H). Please refer table above.
The circle rate for each category is calculated by multiplying the property's built-up area by the applicable rate per square meter or square foot.
The age of the property is also a factor, with newer properties (built after 2000) having a higher multiplier of 1, while older buildings range from 0.5 to 0.9.
Impact of Circle Rates on Property Prices
Circle rates have a direct impact on property prices in Delhi. When the circle rate increases, the transaction value of the property also rises, as stamp duty and registration charges are calculated based on the circle rate. This leads to an increase in overall property prices, making it more expensive for buyers to purchase a property.
Additionally, a high circle rate can affect the resale value of properties, as sellers may need to price their properties at or above the circle rate to comply with regulations. This can limit the affordability of properties for buyers and potentially slow down the real estate market in certain areas.
Also Read : How to Pay Property Tax in Delhi 2024
Staying Informed on Circle Rate Updates
Please Note: Circular rates in Delhi were last revised in 2014.
The Delhi government periodically reviews and updates the circle rates for residential, commercial, and agricultural properties.
It is essential for both buyers and sellers to stay informed about the latest circle rate changes to make informed decisions and ensure compliance with the regulations.
How To Check Circle Rate Updates for Delhi ?
Step 1: Visit https://revenue.delhi.gov.in/
Step 2: On the homepage select Notice Board Option
Step 3: Under Notice Board, click on Previous Notifications
Step 4: Select the Year 2014 as it was the last time the Delhi Circle Rates were revised,
Step 5: You will find the revised circle rate notification, click on it and download the PDF
Conclusion
The Delhi Circle Rate is an important real estate metric required for property calculation for both buyers and sellers as it helps in setting up transparent property prices.
In Delhi, the government has demarcated the region into categories making it is more easily accessible to property buyers and sellers to calculate the property price as per circle rate.
The circle rate in Delhi is calculated based on various factors such as the type of land, area covered, number of floors, amenities, and the age of the property. Commercial properties generally have a higher circle rate compared to residential properties.
It is important for buyers and sellers to be updated about the latest circle rates in Delhi as
Circle rates have a direct impact on property prices in Delhi. When the circle rate increases, the transaction value of the property also rises, as stamp duty and registration charges are calculated based on the circle rate.
Also Read: Stamp Duty and Property Registration Charges in Delhi 2024
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