Circle Rates

Circle rate, also known as ready-reckoner rates, is the minimum designated price per sq ft for land or property at which transactions have to be registered. These rates are used as a guidance value to keep a check on speculation of the prices of land/property as no transactions can take place below circle rates. The government revises the circle rates from time to time depending on demand, supply and development of the area to assess stamp duty charges and to determine the capital gains on the property for calculation of Income Taxes. In fact, circle rates also vary in different cities in the same state and in different localities of the same city.

• The circle rates as determined by each state varies based on factors such as type of property, usage of the property, area, amenities etc.
• To calculate the circle rates of your land or property, determine the usage of the property, whether the property is used for residential or commercial purpose. The circle rates are generally higher for commercial property.
• Now, find the type of property; whether it is a flat, apartment, independent house or a plot of land. The values of property vary even if they fall in the same area.
• You can calculate the circle rates by visiting the Registration Department or online through your stamps and registration website of your respective state.
• For instance, to find the circle rates of your city in Karnataka, one can visit the Kaveri Online Services, Department of Stamps and Registrations, Government of Karnataka and then enter the Registration District, SRO office, Area name, Taluk, village and Hobli etc.

• The circle rates for agricultural land in Delhi was recently revised last year in December. The rate has been increased from ₹ 53 Lakh per acre to anything between ₹ 2.25 Cr to ₹ 5 Cr per acre.
• Circle rates for the residential category in DLF 1 and Sushant Lok 1 have been hiked to ₹ 77,000 per sq yard from ₹ 65,000 per sq yard earlier. In DLF 2 and 4 and South City 1, the rates have been hiked by ₹ 7,000 per sq yard from ₹ 65,000 per sq yard to ₹ 72,000 per sq yard. Similarly, DLF 3 and NMC saw an increase of ₹ 10,000 from ₹ 56,000 per sq yard to ₹ 66,000 per sq yard.
• On 19th June 2019, the reckoner rates were uniformly decreased by 20% in the state of Madhya Pradesh.
• The circle rates for Mumbai remain unchanged since 1st April 2017. For other cities such as Faridabad, Jaipur and Pune there have been no changes recently.

✅How do you find the land circle rate?

You can find the circle rate of your land by determining factors such as type of land, area etc. To calculate, the circle rate of your land multiply the area of plot in square meter by circle rate for land in the locality in ₹ Per square meter. You can find the circle rate applicable for your land on the registrar office website or MyLoanCare.

✅How do you calculate property value per circle?

To calculate the property value per circle, check the built-up area of the property and other features like area, floor, amenities, age of construction etc. Then, select the applicable property type from all the listed property types. After selecting the property type, now choose the locality or area where the property is located on the registrar office website or Myloancare. You can now calculate the property value by the formula mentioned below:
Property value = Built-up area (In sq. metres) x Circle rate for the locality (In ₹/sq. metres).

✅What is the circle rate limit?

The circle rate limit is the fixed percentage value that is considered for the calculation of taxable income from capital gains of selling the property. Presently, the circle limit is 5%, which means that capital gains should be less than 5% of the circle rate.

✅How are registry charges calculated?

The fee for property registration is payable over the stamp duty and is usually 1% of the value of the property. You can determine the value of the property by using circle rates of your respective area.