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Monday, February 8, 2021

A Simple Introduction to the Circle Rate in Delhi

Land is an asset, whether it falls under the residential, commercial, industrial, or agricultural categories. As such, it is important that you, as a landowner or as an individual interested in owning land, are aware of the factors that affect its valuation. While age, condition, and type of land are key factors, another important one to note is the Ready Reckoner Rate (RRR) or the circle rate.


Simply put, circle rate is the minimum price per unit area for a property. It is determined by the respective state government meaning the circle rate in Delhi can differ from the circle rate in Gurgaon, and both these can differ from the circle rate in Kolkata. Each of them indicates the lowest possible cost at which property transactions take place in that particular locality. 




As such, the circle rate dictates the lowest amount against which the stamp duty and registration charges are levied. It is important to note that the circle rate in Delhi only points to the lowest possible value for property transactions and is not indicative of the actual value of any property. Circle rate is different from the market value, which is usually higher in most cases. All in all, the circle rate in Delhi serves as a benchmark for property transactions and being aware of this value helps both buyers and landowners.


To help you stay informed with the latest information, here’s all you need to know about the circle rate in Delhi.

 

What is the current circle rate in Delhi for residential plots?


Category

Cost of land (per sq. m.)

Cost of construction (per sq. m.)

CAT A

Rs.7.74 lakh

Rs.21,960

CAT B

Rs.2.46 lakh

Rs.17,400

CAT C

Rs.1.60 lakh

Rs.13,920

CAT D

Rs.1.28 lakh

Rs.11,160

CAT E

Rs.70,080

Rs.9,360

CAT F

Rs.56,640

Rs.8,220

CAT G

Rs.42,200

Rs.6,960

CAT H

Rs.23,280

Rs.3,480


What is the circle rate in Delhi for flats?

 

Area

Private flats (per sq.m.)

DDA, Society flats (per sq.m.)

Up to 30 sq.m.

Rs.55,440

Rs.50,400

30 sq.mt. to 50 sq.m

Rs.62,652

Rs.54,480

50 sq.mt to 100 sq.m.

Rs.79,488

Rs.66,240

Above 100 sq.m.

Rs.95,250

Rs.76,200

Multi-storey apartments

Rs.1,10,000

Rs.87,840


What is the circle rate in Delhi for agricultural land
?


The circle rate in Delhi for agricultural land is as follows.

 

District

Green belt villages (Cr rupees/acre)

Rural villages (Cr rupees /acre)

Urbanised villages (Cr rupees /acre)

North

3

3

3

North-east

N/a

2.3

2.3

North-west

3

3

3

South

5

5

5

South-east

N/a

2.5

4

South-west

3

3

4

East

N/a

2.3

2.3

West

3

3

3

Central

N/a

2.5

2.5

New Delhi

5

5

5

Shahdara

2.3

2.3

2.3

 

How can you calculate a property’s value using the circle rate?



When calculating the area of a property, it is advisable to use a land area calculator as it computes the result accurately based on the values of the variables. To calculate a property’s value, here are the steps to follow.

 

  1. Calculate the area of the plot/ built-up area of the property
  2. Note the property type and locality
  3. Find the applicable circle rate
  4. Calculate the minimum assessed value
    1. For residential apartments: Multiply the built-up area (sq.m.) into the applicable circle rate in Delhi for flats (Rs./sq.m.)
    2. For plots: Multiply the area of the plot (sq.m.) into the circle rate for land in that locality (Rs./sq.m.)

Dealings involving assets like land demand that you’re well informed about every aspect of buying and selling. When it comes to the circle rate or RRR, it is important to note that it differs with each state. The circle rate in Kolkata isn’t required to share similarities with the circle rate in Gurgaon or the circle rate in Delhi for different property types. Keep this in mind when having properties evaluated and use a land area calculator to get the most accurate results.

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