What are the Current Circle Rate in Lucknow?

The District Magistrate’s office notifies Circle rate in Lucknow for property valuation. Presently, the city’s circle rate is the same as last updated in 2017 as per city administration’s decision against revising these rates. The rates form an essential consideration when it comes to the valuation of property in different areas of Lucknow for sale, purchase or mortgage.

What is Circle Rate?

Circle rate is the minimum value that the government notifies for property valuation in a given area. Transaction related to the property is initiated on this basis. Circle rate is also an essential requirement when assessing property value to avail mortgage loans like loan against property.

Circle rates in Lucknow are considered during property valuation, and stamp duty is calculated and paid on the higher of assessed value and declared transaction value. For the financial year 2018-2019, the circle rate in Lucknow has remained the same as earlier.

Circle Rate in Lucknow

Following is a list of circle rates in Lucknow for different areas.

List of Areas Average Circle Rates
Amar Shaheed Path Rs.3,613/sq. metres
Faizabad Road Rs.3,027/sq. metres
Ansal API Golf City Rs.3,343/sq. metres
Gomti Nagar Rs.4,194/sq. metres
Jopling Road Rs.7,761/sq. metres
Gomti Nagar Extension Road Rs.3,478/sq. metres
Kanpur Road Rs.3,280/sq. metres
Raibareli Road Rs.3,338/sq. metres
Mahanagar Rs.6,043/sq. metres
Sitapur Road Rs.4,048/sq. metres
Sushant Golf City Rs.3,351/sq. metres
Sultanpur Road Rs.3,393/sq. metres
Vrindavan Yojana Rs.3,589/sq. metres
Vibhuti Khand Rs.5,778/sq. metres

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What Does Circle Rate in Lucknow Depend Upon?

Circle rate in Lucknow depends on several factors listed below.

  • The area where the property is located.
  • Available amenities.
  • Age of the property.
  • Type of property, depending on whether it is a flat, an independent house or a plot.
  • Occupancy, i.e., either residential or commercial.

Also, the value of commercial properties is higher than residential ones. During property valuation, circle rates thus significantly affect the assessed value. However, when availing a property loan, it is preferable to go for a residential property mortgage. It is because lenders consider loan financing against residential properties a more viable option than otherwise.

Current Stamp Duty in Lucknow

Stamp duty is calculated and paid for the higher of the two values –

  • The assessed value of the property.
  • Declared transaction value.

Depending on this valuation, current stamp duty rates prevailing in Lucknow for urban areas are as follows.

  • 6% for women (In case of property valued at less than Rs.10 lakh).
  • 7% for women (For property value more than Rs.10 lakh).
  • 7% for men.

Prevailing stamp duty for agriculture land stands at –

  • 4% of property valuation for women.
  • 5% of property valuation for men.

Stamp duty is thus calculated depending on the specific area’s circle rate in Lucknow.

Registry Charges in Lucknow

Property registration charges are fees paid to the government for ownership record maintenance. The applicable registration charges in Lucknow are 2% of the property value, with a maximum amount reaching up to Rs. 20,000. A court fee of Rs. 10,200 is also payable during property registration.

How to Calculate Property Value in Lucknow Using Circle Rate for Stamp Duty Payment?

Calculation of property value using circle rate comprises the following steps.

  • Determination of property’s built-up area along with considerations like property age, amenities available, etc.
  • Determination of property type.
  • Choice of the property’s locality.
  • Property value calculated using the following formula –

Property value = Built-up area (In sq. metres) x Circle rate for the locality (In Rs./sq. metres).

Areas in Lucknow

Check out the list of areas for which circle rates in Lucknow are notified.

  • Amar Shaheed Path
  • Faizabad Road
  • Ansal API Golf City
  • Gomti Nagar
  • Kanpur Road
  • Jopling Road
  • Gomti Nagar Extension Road
  • Raibareli Road
  • Mahanagar
  • Vibhuti Khand
  • Sitapur Road
  • Sushant Golf City
  • Sultanpur Road
  • Vrindavan Yojana
  • Indira Nagar
  • Lucknow Cantt
  • Jankipuram
  • Rajajipuram
  • Ashiyana
  • Aminabad
  • Eldeco
  • Hazratganj