Circle rate is an essential factor considered when determining property value during sale or purchase. It is also a factor financial institutions consider when estimating the property value for sanctioning mortgage loans. With demand for property loans in Delhi at an all-time high, circle rate in Delhi is an essential consideration. Have a look at all details related to circle rate in the city.
The government notifies a minimum rate for transactions related to property registration in a specified area, known as the circle rate. It is notified through the sub registrar’s or registrar’s office in Delhi.
Stamp value is thus determined as the higher of circle rate notified for a given area in Delhi and estimated transaction value for the property.
Candidates seeking to avail a loan against property in Delhi have to consider the specified circle rate for the property to be mortgaged and apply for the loan amount accordingly.
Residential plots within the administrative area falling under New Delhi Municipal Corporation (NDMC) are divided into categories ranging from A to H. Circle rates in the city differ as per the classification. Below-given is the chart that specifies circle rate in Delhi for all the categories of residential plots.
| Categories | Cost of Construction/sq. metre. (In Rupees) | Cost of Land/sq. metre (In Rupees) |
|---|---|---|
| A | 21,960 | 7,74,000 |
| B | 17,400 | 2,46,000 |
| C | 13,920 | 1,60,000 |
| D | 11,160 | 1,28,000 |
| E | 9,360 | 70,080 |
| F | 8,220 | 56,640 |
| G | 6,960 | 46,200 |
| H | 3,480 | 23,280 |
Similar to the circle rate for residential plots, the Delhi Government separately notifies the rates for flats across the city. They are divided into five categories depending on the area they cover and type. Check out the circle rate in Delhi for flats.
| Area of Flats | Rates for Private Builder Flats (In Rupees) | Rates for DDA/Society Flats (In Rupees) |
|---|---|---|
| Multi-storied apartments | 1,10,000 | 87,840 |
| 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 rate in Delhi varies for different areas based on factors like –
Based on these factors, the areas are divided among eight categories from A to H, as mentioned above. While areas with the highest values and posh amenities fall under category A, it diminishes for the following categories, with areas carrying the lowest value 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/sale thus follows these considerations in determining the valuation of the property to be mortgaged.
Complete the following steps to calculate the circle rate in Delhi.
Step 1 – Determine whether the property is used for residential or commercial purpose. The circle rate notified by the Delhi Government are higher for the former and lower for the latter.
Step 2 – Consider the type of property; whether it is a flat, apartment, independent house or a plot of land. Values of different property types vary even if they fall in the same area.
Step 3 – Use an ‘age multiplier’ to arrive at property valuation and determine the circle rate accordingly.
Now, take a look at the age factor that affects circle rates for properties in Delhi.
Property valuation to decide the circle rate in Delhi is affected by age factor depending on the year of construction. The multipliers vary between 0.5 and 1.0 and are applicable for properties built before 1960 and after 2000, respectively.
The table given below specifies the age multiplier as per the year of construction.
| Applicable Multiplier Rate | Affecting Age Factor (In Years) |
|---|---|
| 1 | After 2000 |
| 0.9 | Between 1990 and 2000 |
| 0.8 | Between 1980 and 1989 |
| 0.7 | Between 1970 and 1979 |
| 0.6 | Between 1960 and 1969 |
| 0.5 | Before 1960 |
Based on the circle rate chart notified by the Delhi Government, stamp duty is calculated on higher of the two values, i.e., value assessed and agreement value declared. The percentage rate of stamp duty, however, varies based on the owner. Check out the rates below.
The applicable stamp duty rates prevailing in Delhi are as follows –
The registration charge is an additional fee levied over and above the stamp duty during property registration. The charge covers for expenses required to meet the running expenses of the registrar’s office.
The applicable registry charges for properties in Delhi stand at 1% of the valuation. Besides, a pasting fee of Rs.100 is also applicable.
Complete the following steps to calculate property value using the circle rate in Delhi. Stamp duty is paid on this valuation during property purchase.
1. Determine the property’s built-up area and other factors like property age, floor area, available amenities, etc.
2. Choose the type of property from plots, apartments, flats, etc.
3. Next, choose the area/locality of the property as per categorized in the Delhi registrar’s official website.
4. Compute the minimum assessment value through the following calculation after considering the applicable circle rate in Delhi.
For independent plot builder floors –
Multiply plot area’s proportionate share (in sq. metres) with the area’s applicable circle rate (in Rs./sq. metre).
Multiply minimum construction cost (in Rs./sq. metre) with a built-up area (in sq. metres). Now, multiply the product with the applicable age factor.
For residential apartments (Including society/DDA/builder flats) –
The calculation for flats in 4-storeyed buildings – Multiply the flat’s built-up area (in sq. metres) with the flat’s applicable circle rate (in Rs./sq. metre).
Calculation of multi-storeyed flats – Multiply the flat’s built-up area (in sq. metres) with applicable circle rates for the multi-storeyed flats (in Rs./sq. metre).
For house constructed on a plot –
Multiply plot area (in sq. metres) with applicable circle rate for the land in the respective locality (in Rs./sq. metre).
Multiply the house’s built-up area (in sq. metres) with minimum construction cost (in Rs./sq. metre). Multiply the product with the applicable age factor for the construction.
For plots –
Multiply plot area (in sq. metres) with applicable circle rate for the land in the respective locality (in Rs./sq. metre).
Now, take a look at areas falling under the eight categories for the determination of circle rate in Delhi.
| Categories | Areas Covered |
|---|---|
| Category A | Friends Colony (East & West), Kalindi Colony, Maharani Bagh, Golf Links, Lodi Road Industrial Area, Nehru Place, Panchshila Park, Shanti Niketan, Vasant Vihar, New Friends Colony, Rajendra Place, Sunder Nagar, Anand Niketan, Bhikaji Cama Place, Basant Lok DDA Complex, Friends Colony |
| Category B | Sarvapriya Vihar, Anand Lok, Defence Colony, Sarvodaya Enclave, Andrews Ganj, Greater Kailash (I, II, III and IV), Green Park, Hamdard Nagar, Maurice Nagar, Neeti Bagh, Nizamuddin East, Panchsheel Park, Gulmohar Park, Hauz Khas, Munrika Vihar, Nehru Enclave, Pamposh Enclave, Safdarjung Enclave |
| Category C | Alaknanda, Civil Lines, East Patel Nagar, Kailash Hill, Chittranjan Park, East of Kailash, Jhandewalan Area, Kalkaji, Malviya Nagar, Lajpat Nagar (I, II, III and IV), Munirka, Punjabi Bagh, Vasant Kunj, Masjid Moth, Nizamuddin West, Som Vihar, Panchsheel Extension. |
| Category D | Jasola Vihar, Kirti Nagar, Rajinder Nagar (New & Old), Karol Bagh, Mayur Vihar, Rajouri Garden, Daryaganj, East End Apartments, Hudson Lane, Janakpuri, Jangpura Extension, Anand Vihar, Dwarka, Gagan Vihar, Indraprastha Extension, Jangpura A |
| Category E | Chandni Chowk, Gagan Vihar Extension, Jama Masjid, Khirki Extension, Mahavir Nagar, Pahar Ganj, Rohini, East End Enclave, Hauz Qazi, Kashmere Gate, Madhuban Enclave, Moti Nagar, Pandav Nagar, Sarai Rihilla |
| Category F | Majnu Ka Tila, Nand Nagri, Zakir Nagar Okhla, Arjun Nagar, Dilshad Colony, BR Ambedkar Colony, Govindpuri, Jangpura B, Mukherjee Park Extension, Uttam Nagar, Anand Prabhat, Daya Basti, Dishad Garden, Ganesh Nagar, Hari Nagar, Madhu Vihar |
| Category G | Ambedkar Nagar Jahangirpuri, Amber Vihar, Dakshinpuri, Hari Nagar Extension, Tagore Garden, Ambedkar Nagar East Delhi, Dabri Extension, Dashrath Puri, Vivek Vihar Phase I |
| Category H | Sultanpur Majra |
Circle rate is a factor which is considered when determining property value during purchase or sale. According to revised circle rates in Delhi, the lowest rate for residential plot is ₹ 18,624.
The applicable registry charges of Circle rate in Delhi stand at 1% of the transaction value. Besides, a pasting fee of Rs.100 is also applicable.
