Circle rates are minimum rates for property registration transactions notified by the sub-registrar or registrar’s office. It is different for each place and varies according to the place. In this article we will be taking a look at the circle rates of Delhi.
Circle rates are significant because they are used as a factor while determining the price for property values during a purchase or sale. Financial institutions also use it before they sanction a mortgage loan.
|Categories||Cost of Construction/sq. metre. (In Rupees)||Cost of Land/sq. metre (In Rupees)|
|Area of Flats||Rates for Private Builder Flats (In Rupees)||Rates for DDA/Society Flats (In Rupees)|
|Above 100 sq. metres||95,250||76,200|
|Between 50 and 100 sq. metres||79,488||66,240|
|Between 30 and 50 sq. metres||62,652||54,480|
|Within 30 sq. metres||55,440||50,400|
Circle rates in Delhi depends on the following factors :-
Based on these variables, as described above, the areas are divided into eight groups, starting from A to H. While areas with the highest prices and posh facilities fall under category A, this decreases for the following categories, with the lowest-value areas falling under category H.
As for flats, the circle rates further differ depending on the builders, namely
Assessment of property loan application or valuation during purchase and sale thus follows these considerations in determining the cost of the property to be mortgaged.
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