A circle rate is the minimum value of a locality which is taken into consideration while calculating the stamp duty charges at the time of sale, purchase and transfer of a property. Circle rates vary from area to area, based on different criteria. For residential properties in Greater Noida, the Uttar Pradesh government fixes the circle rates. Propertyyy.com shares the latest circle rate in Greater Noida.
Greater Noida circle rate is the minimum value notified by the Uttar Pradesh government through the registrar or sub-registrar office for registration of any property transactions. The circle rates are then considered for calculating the stamp duty levied on the property. Stamp duty is paid on the transaction value or the circle rate, whichever is higher.
Earlier, it was noted that while registering their properties, buyers would understate the value of the unit to avoid paying more money as stamp duty charges and registration fees. To prevent this, the State government fixed the minimum rate (circle rate) at which a property transaction could be registered.
Also Read: Latest Circle Rates in Noida
Factors affecting circle rate in Greater Noida
Circle rate in Greater Noida
|Circle rate in Greater Noida for residential flats 2019|
|Sectors||Circle rates (per sq m)|
|Sector 1,2,3,4,5,6,10,11,12,16,16B,16C,17,17A,17B,20, and 27; Techzone, Techzone 2, Techzone 5, Techzone 7||Rs 26,000|
|Omicron 1, Omicron 1A, Omicron 2, Omicron 3, Zeta 1, Zeta 2, Xu 1, Xu 2, Xu 3, MU 1, MU 2, Sigma 1, Sigma 2, Sigma 3, Sigma 4||Rs 26,500|
|Omega 1, Omega 2, Omega 3, Chi 1, Chi 2, Chi 3, Chi 4, Chi 5, Delta 1, Delta 2, Delta 3, Pi 1, Pi 2, Pi 3, Pi 4, Pi 5, Pi 6, Pi 7, Pi 8, Phi 1, Phi 2, Phi 3, Phi 4, Phi Chi||Rs 27,000|
|Alpha-I, Alpha-II, Gamma 1, Gamma 2, Beta 1, Beta 2||Rs 28,000|
Source: Stamps and Registration Department, Uttar Pradesh
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Vishesh Rai Buffett is an Indian entrepreneur and technology evangelist by heart. He is the Founder and chief executive officer of PROPERTYYY.com, the only Real Estate Consultancy Chain in India.