What is the new circle rate in Delhi?
Current Circle Rates in New Delhi 2021
| Area | Private builder flats | Multiplying factors for private colonies |
|---|---|---|
| More than 100 square metres | Rs.95,250 | 1.25 |
| 50 to 100 square metres | Rs.79,488 | 1.2 |
| 30 to 50 square metres | Rs.62,652 | 1.15 |
| Up to 30 square metres | Rs.55,440 | 1.1 |
What is a circle rate in property?
Circle rate is the price per unit area that is affixed by government authorities for land or property in a locality, below which property transactions cannot be registered.
Can I sell my property below circle rate?
The government allowed developers to sell at rates up to 10% lower than the circle rate without attracting additional tax. – According to Finance Minister Nirmala Sitharaman, “the move will help reduce hardships faced by both home-buyers and the developers and help clear unsold inventory.”
What is the rate of land in Delhi?
Property Rates & Price Trends in Delhi
| Locality Name | Buy Rates | Rental Rates |
|---|---|---|
| Price Range (Rs. per sq. ft.) | 2 Bedroom | |
| Mayur Vihar – III | Rs. 5,950 – 7,480/sq. ft. | Rs. 12,240 – 13,770 |
| New Kondli | Rs. 5,142 – 7,012/sq. ft. | – |
| Patparganj | Rs. 7,608 – 9,478/sq. ft. | Rs. 14,280 – 17,850 |
Is Punjabi Bagh a posh area?
Punjabi Bagh West is posh area of Delhi with all the major stores & restaurants on club road is one of the most upcoming and happening market in this side of Delhi. West Punjabi Bagh is well designed colony with all amenities required for modern day living.
What is difference between circle rate and agreement rate?
Earlier the difference between the circle rate and agreement value could not be more than 10 percent. This threshold limit had been increased by the government from the earlier 5% level in the budget 2020. This meant that the developer could sell a property at up to 10% lower price than the circle rate.
How do I calculate my registry?
Stamp Duty Charges will be 5.6% of saleable value (Rs. 50,00,000 lakh) = Rs. 1,50,000. Registration Charges will be 3% of saleable value (Rs.
What if market value is less than circle rate?
Irrespective of the consideration for which the property has been sold, if it has been sold for a price below the Circle Rate, the circle rate would be assumed to be the Sale Price and Capital Gains Tax would be levied.
Can you buy a property below market value?
There is an urban myth that to purchase (or sell) a property well below its actual worth may be unethical (or even illegal) in some way. Buying a house below market value, with or without a mortgage, is generally a perfectly acceptable practice.
Is there going to be reduction in circle rates in Delhi?
However, note that the official notification for reduction of circle rates is yet to be issued and hence old rates continue to be in force as of June 05, 2021. In Delhi, all the properties are classified in 8 categories from Category A to Category H for determining the circle rates.
What is the circle rate for agricultural land in Delhi?
The circle rate for agricultural land has been increased from Rs 53 lakhs per acre to Rs 2.25-5 crores per acre, depending upon the area. Property circle rates in Delhi depend on a number of factors, such as: Facilities in the area: The more the facilities, the higher the circle rate in Delhi.
Which is higher circle rate or stamp duty in Delhi?
Type of property: While circle rates are lower for residential properties in Delhi, they are comparatively higher for commercial properties. Registration charges are an additional levy, over and above the stamp duty and are levied to cover the cost of running registration offices by the government.
Which is higher circle rate residential or commercial?
Usually, commercial properties have higher circle rates, as compared to residential properties. It may also vary, based on the type and age of the property. Properties built after the year 2000 have a maximum multiplier of 1 while the older buildings have it in the range of 0.5-0.9.
