Thank you Ms. Punam for sharing your thoughts on what is circle rate. As she has rightly mentioned, circle rate is the minimum price below which no property is registered with the state revenue department. We have shared a video on our Youtube channel explaining the concept and meaning of circle rate in detail. You can check it out below. Don’t forget to leave a comment and subscribe to our channel.
Your Feedback Matters! How was this Answer?
Before jumping on to how to calculate circle rate, I would like to throw some light on what are circle rates.
Circle rate or ready reckoner rate is the minimum price below which no property will be registered with the Revenue Department of the state. This ensures that buyers don’t buy property at a lower cost . As per the state regulations, buyers will have to pay stamp duty and registration charges on either the purchase price or the circle rate whichever is higher.
The circle rates are revised by the department on the basis of current real estate market trends of the state, i.e. demand, supply and development in a particular area. The circle rates vary from state to state, city to city and may vary from locality to locality as well.
How to calculate circle rate?The calculation of circle rate depends on a various factors;
- Property type - Residential flat/ Residential apartment or Commercial flat/ commercial apartment
- Area of the property
- Market value and trends of the properties
The calculation of circle rate in Delhi can be done easily through online mode.
- Visit the official website
https://eval.delhigovt.nic.in/
- Enter details including sub-registrar, locality, deed name, and sub-deed name
- Click on submit
You will get the circle rates on your screen as per the information submitted.
In a notification released in February 2021, the Government of Delhi announced that the circle rates in Delhi for residential, commercial and industrial properties will see a cut of 20% till September 30, 2021. This will further reduce the stamp duty and registration charges payable. However, an official notification is yet to be issued for the new rules to be implemented.
What is Circle Rate?
Manoj Sharma
1.2k Views
2
4 Year
2021-03-09T12:22:41+00:00 2024-10-04T12:28:26+00:00Comment
Share