What is the new circle rate in Delhi?
Table of Contents
- 1 What is the new circle rate in Delhi?
- 2 What is the circle rate of agricultural land in Delhi?
- 3 How can I check property registry in Delhi?
- 4 What if market value is less than circle rate?
- 5 What is the circle rate in Noida?
- 6 When will circle rates be reduced in Delhi 2021?
- 7 When will covid-19 tax rates be reduced in Delhi?
What is the new circle rate in Delhi?
Current Circle Rates in New Delhi 2021
| Area | Private builder flats | Multiplying factors for private colonies |
|---|---|---|
| More than 100 square metres | Rs.95,250 | 1.25 |
| 50 to 100 square metres | Rs.79,488 | 1.2 |
| 30 to 50 square metres | Rs.62,652 | 1.15 |
| Up to 30 square metres | Rs.55,440 | 1.1 |
How are circle rates decided?
The price is decided by the state government or the development authorities. Circle rates may be lower than the actual market price of the property. Circle rates are indicative prices. The buyer has to register the property on the prescribed circle rate or actual transaction value, whichever is the higher amount.
What is the circle rate of agricultural land in Delhi?
From Rs 53 lakhs an acre now, circle the rates for agricultural land in Delhi have been hiked between Rs 2.25 crores and Rs 5 crores.
What is the rate of stamp duty in Delhi?
Stamp Duty in Delhi is fixed at 6\% for a male owner and 4\% for a female owner. The rate is fixed at 5\% in the case of joint ownership.
How can I check property registry in Delhi?
There is no fee for search of details of past registration of properties. One can make online search through our official websites: http://revenue.delhi.gov.in or http://doris.delhigovt.nic.in.
What is the circle rate of Vasant Kunj?
Areas in Delhi
| Area | Land Cost | Construction Cost |
|---|---|---|
| Vasant Kunj | Rs. 1.60 Lakh per sq mtr | Rs. 13,920 per sq mtr |
| Alaknanda | Rs. 1.60 Lakh per sq mtr | Rs. 13,920 per sq mtr |
| Chittaranjan Park | Rs. 1.60 Lakh per sq mtr | Rs. 13,920 per sq mtr |
| New Rajinder Nagar | Rs. 1.28 Lakh per sq mtr | Rs. 11,160 per sq mtr |
What if market value is less than circle rate?
Tax implication if the market rate is lower than the circle rate. Under Section 56 (2)(x) of the Income Tax Act, the difference is taxed as ‘other income’ for the buyer, if the market value of the property is lower than its circle rate value.
What is difference between circle rate and market rate?
Circle Rate is minimum value at which the property can be sold or purchased. Whereas market value is the rate at which actual transaction takes place. Circle Rate is also known as Guidance Value, Ready Reckoner Rate, Govt Value, Floor Price etc.
What is the circle rate in Noida?
Circle rates for residential floors in Noida
| Sectors | Circle rate upto 24 m road (per sq. m) | Circle rate on above 24m road (per sq. m) |
|---|---|---|
| Sector 93A, Sector 93B, Sector 96 – 100, Sector 105, | Rs. 72,000 – Rs. 79,200 | Rs. 82,800 |
| Sector 108, Sector 122 |
How can I avoid stamp duty?
Six ways to legitimately avoid stamp duty
- Haggle on the property price.
- Transfer a property.
- Buy out your ex.
- Pay for fixtures and fittings separately.
- Build your own.
When will circle rates be reduced in Delhi 2021?
In February 2021, the Delhi government had decided to cut the circle rates by a flat 20\% across categories, including residential, commercial and industrial buildings. The reduced rates, which were applicable on all areas in the national capital, would remain in effect till September 30, 2021.
What is the difference between circle rates in Delhi?
Category type of the area: Circle rates of properties in posh areas of Delhi are always higher than the rates in other areas. Type of property: While circle rates are lower for residential properties in Delhi, they are comparatively higher for commercial properties.
When will covid-19 tax rates be reduced in Delhi?
The reduced rates, which were applicable on all areas in the national capital, would remain in effect till September 30, 2021. The decision was taken in a cabinet meeting of the union territory government on February 5, 2021.
How will the 20\% reduction in circle rates impact the property market?
Recently, the Delhi government had said that the reduction of 20\% in the circle rates would also impact the stamp duty or registration charges by 1\%. This will benefit many home buyers across the city, as properties will become more affordable.