Circle Rates in Delhi 2024
Circle rates are the minimum rates set by the State government at which a property transaction must take place. These rates vary from area to area and are decided as per various parameters, including the category, location and age of the property.
The following table shows the latest circle rates in Delhi for various locations in 2024:
| Location | Category | Land Cost (per sq m) | Construction Cost: Residential (per sq m) | Construction Cost: Commercial (per sq m) |
|---|---|---|---|---|
| Vasant Kunj | A | 1.60 lakhs | 2.50 lakhs | 3.50 lakhs |
| Alaknanda | A | 1.60 lakhs | 2.50 lakhs | 3.50 lakhs |
| Chittaranjan Park | A | 1.60 lakhs | 2.50 lakhs | 3.50 lakhs |
| New Rajinder Nagar | D | 1.28 lakhs | 2.00 lakhs | 2.75 lakhs |
| Rohini | E | 96,000 | 1.60 lakhs | 2.25 lakhs |
| Dwarka | F | 1.04 lakhs | 1.75 lakhs | 2.50 lakhs |
| Mayur Vihar | G | 88,000 | 1.50 lakhs | 2.25 lakhs |
| Pitampura | H | 72,000 | 1.25 lakhs | 2.00 lakhs |
Please note that these are just the minimum rates and the actual price of a property may be higher. The circle rates are revised from time to time, so it is advisable to check the latest rates before making a property purchase.
How to Calculate Circle Rate in Delhi for Property
The circle rate of a property in Delhi can be calculated as follows:
- For residential properties:
- Multiply the total built-up area by the minimum construction cost of the property.
- Once done, multiply the product by the age factor applicable to the property.
- For commercial properties:
- Multiply the total built-up area by the minimum construction cost of the property.
- Once done, multiply the product by the age factor applicable to the property and the commercial factor.
The age factor is a percentage that is applied to the construction cost to account for the depreciation of the property with age. The commercial factor is a percentage that is applied to the construction cost to account for the higher value of commercial properties.
Factors that Impact Circle Rates in Delhi
The circle rate in Delhi is impacted by a number of factors, including:
- The location of the property.
- The type of property.
- The age of the property.
- The amenities and facilities in the area.
- The demand for property in the area.
The circle rate is an important factor to consider when buying a property in Delhi. It is used to calculate the stamp duty and registration charges payable on the property. The higher the circle rate, the higher the stamp duty and registration charges.
Conclusion
The circle rates in Delhi are revised from time to time, so it is advisable to check the latest rates before making a property purchase. The circle rate is an important factor to consider when buying a property in Delhi, as it is used to calculate the stamp duty and registration charges payable on the property.