Guidance value or circle rate in Bangalore were revised on 1st January 2019 after a gap of 2 years. The revision saw a significant overhaul in rates, with agricultural land in different localities of the city witnessing an increase of 5% to 25%. Circle rates of other urban locations also witnessed a revision.
Circle rate or guidance value is the minimum limit set by the government for real estate transactions and property registration. In Bangalore, the Department of Stamps & Registration notifies these rates for different localities. With the recent revision of circle rate in Bangalore, the city witnesses a rise in property prices.
Applicable to the constructed property as well as plots, guidance value or circle rate helps determine stamp value. It is thus calculated on the higher of declared transaction value and the assessed value as per applicable circle rate.
The rate also helps determine a property’s value to avail mortgage advances like loan against property.
Following is the revised list of applicable circle rates in Bangalore for different areas.
|Areas/Localities in Bangalore||Applicable Circle Rate (In Rs./sq. metres)|
|Banumaiah Circle to KR Circle||68,200|
|Ayurveda Hospital to RMC Circle||49,100|
|Kumbarakoppal Cross Roads||9,600|
|Kumbarakoppal South Side||13,000|
|Gokulam Cross Road||19,800|
|Gokulam Third Stage||28,000|
|Contour Road EWS||19,700|
|Bogadi First & Second Stage||28,000|
|Srirampura First Stage||23,000|
|Metagalli Main Road||18,300|
|B.M. Sri Nagar Cross Road||28,000|
|Vani Vilas Market – D. Banumaiah Circle||32,000|
|K.R. Circle to Ayurveda Hospital Circle||1,15,000|
|RMC Circle to Highway Circle||32,600|
|Kumbarakoppal Main Road||1,29,000|
|Kumbarakoppal Inner CrossRoads||9,900|
|Kumbara Koppal Colony||6,500|
|Gokulam Main Road||38,400|
|Gokulam First and Second Stage||25,000|
|Gokulam Fourth Stage||20,000|
|Karnataka Slum Development Board Houses||8,600|
|Srirampura Second Stage||24,000|
|B.M. Sri Nagar Main Road||10,100|
Circle rate in Bangalore is dependent on several factors listed below.
Area of the property
Type of property
Urban or Rural
Property occupancy, either residential or commercial
Age of the property
Property builder, in case of constructed property
Size or area of the property
Additional construction, if any
Based on these factors, property valuation is done and stamp duty paid during sale or purchase. The factors also affect property valuation and allow an individual to avail property loan based on the valuation.
The applicable rates of stamp duty prevailing in Bengaluru are as follows.
In urban areas- 5.6%
In rural areas – 5.65%
Registration charges are additional fees levied on stamp value while registering the property during ownership transfer. The Department of Stamp and Registration charges these fees for ownership record maintenance.
While registering a property in the city, an individual needs to pay registration charges of 1% of the property value calculated as per the circle rate in Bangalore.
Calculation of property value in Bangalore for stamp duty payment is done in the following steps.
Determination of built-up area.
Determination of property types – apartment, flat, individual house or plot.
Choice of locality for the property in consideration.
Computation of minimum assessment value as per the applicable circle rate in Bangalore is as follows –
The built-up area of the property in sq. metres (Only area in case of plot) x Circle rate applicable for the locality in Rs./sq. metres.
You can also complete the valuation as per applicable circle rate in Bangalore through KAVERI Online Services Karnataka state’s official website for property valuation.
Check out the areas listed under various sub-registrar offices in Bangalore.
|Hebbal||Basavanagudi District||Shivajinagar District||Gandhinagar District||Jayanagar District|
|Peenya||Attibele||KR Puram||Bommanahalli||Rajarajeshwari Nagar|