A Comprehensive Guide to Circle Rates in Noida 2024
May 28, 2024
Circle Rates in Noida
Understanding circle rates is important for both buyers and sellers. If you are a buyer, knowing the circle rates helps you understand the fair market value of your property, while if you are a seller, it helps you price your property fairly and in compliance with government regulations.
In this blog, we will provide a complete guide on circle rates in Noida. We'll cover what circle rates are, the factors that influence them, and how to calculate them for various types of properties.
Table of contents
- What are circle rates?
- What are circle rates in Noida?
- How are circle rates determined in Noida?
- Factors influencing circle rates
- How to calculate the circle rate in Noida for different property types?
- Relationship between circle rates and stamp duty
- Things to remember when calculating the circle rate in Noida
- Conclusion
- FAQs
What are circle rates?
Circle rates, also known as the guidance value, are the minimum value set by the state government for the sale or transfer of a property. They serve as a reference point for calculating property taxes, stamp duty, and registration charges. As a buyer, you can use them to understand the fair market value of the property you are interested in. Circle rates are also helpful if you want to avoid being misled by artificially low prices.
In a nutshell, circle rates help maintain transparency and fairness in real estate transactions by providing a standard value for properties in a given area.
What are circle rates in Noida?
| Area |
Noida Circle Rate for 12 Meter Road |
Noida Circle Rate for 12 Meter-18 Meter Road |
Noida Circle Rate for 18 Meter-24 Meter Road |
Noida Circle Rate for Above 24 Meter Road |
| Sector 1-12, 22, 42, 43, 45, 70-79, 107, 110, 119-121, 123, 125-137, 142, 143, 143B, 144, 151-157 |
INR 52,500 |
INR 55,150 |
INR 57,750 |
INR 60,400 |
| Sector 14, 14A, 15A, 16, 16A, 16B, 17, 18, 30, 35, 36, 38, 38A, 39, 44, 50, 51, 52, 94, 124 |
INR 1,03,000 |
INR 1,09,000 |
INR 1,14,000 |
INR 1,19,000 |
| Sector 15, 19, 20, 21, 23-25, 25A, 26-29, 31-34, 37, 40, 41, 46-49, 53, 55, 56, 61, 62, 82, 92, 93, 93A, 93B, 96-100, 105, 108, 122 |
INR 72,000 |
INR 75,600 |
INR 79,200 |
INR 82,800 |
| Sector 54, 57- 60, 63, 63A, 64, 65, 67-69, 80, 81, 83-91, 95, 101, 103, 106, 109, 111-114, 116-118 |
INR 44,000 |
INR 46,200 |
INR 48,400 |
INR 50,600 |
| Sector 66, 102, 138, 139, 140, 140A, 141, 145 – 150, 158-167, NEPZ, Noida Phase 2 |
INR 40,000 |
INR 42,000 |
INR 44,000 |
INR 46,000 |
| Sector 104 |
INR 44,000 |
INR 55,150 |
INR 57,750 |
INR 60,400 |
| Sector 115 |
INR 44,000 |
INR 42,000 |
INR 44,000 |
INR 50,600 |
| Sector 168 |
INR 52,500 |
INR 52,500 |
INR 57,750 |
INR 60,400 |
The above circle rates are indicative. For up-to-date information on the circle rates in Noida, visit the official website of the Stamps and Registration Department of Uttar Pradesh.
How are circle rates determined in Noida?
Circle rates in Noida, like many other Indian cities, are determined by the local government authorities. The circle rates are typically based on factors such as the location of the property, the type of property (residential, commercial, agricultural), the amenities and infrastructure, and changing market conditions. The local authorities periodically review and update these rates to reflect changes in market conditions and property values.
Factors influencing circle rates
The circle rates change from time to time, depending on factors like location, property type, amenities, and market demand.
Location
Properties in prime or central areas generally have a higher circle rate than those in less developed areas.
Property type
The type of property affects the circle rate in Noida based on their usage and market demand. For example, the circle rate of a commercial property in Noida might be different than that for a residential property.
Infrastructure
The availability of infrastructure such as roads, public transportation, schools, and hospitals in the locality can influence circle rates. Properties located in areas with better infrastructure and facilities typically have higher circle rates.
Market demand
Circle rates often reflect the current market demand for properties in a particular area. High-demand areas tend to have higher rates, while properties in areas with lower demand may have lower circle rates.
How to calculate the circle rate in Noida for different property types?
Calculating the circle rate in Noida for different types of property involves specific methods for each category.
Builder floors on independent plots
- Find the land value by multiplying the circle rate for land in the area (INR per square metre) by the plot's area share.
- Calculate the construction cost by multiplying the built-up area by the lowest cost per square metre.
- Add the land value and construction costs to get the circle rate for builder floors.
Plots
- Multiply the circle rate for land by the plot’s area in square metres to find the circle rate for plots.
House constructed on plots
- Calculate the construction cost adjusted for the building’s age by multiplying the cost per square metre by the built-up area.
- Find the land value by multiplying the circle rate for land by the plot’s area in square metres.
- Add the construction cost and land value to find the circle rate for houses built on plots.
Residential apartments
- Multiply the circle rate for flats (INR per square metre) by the flat's built-up area, including amenities and floor relief.
- Add the value of covered parking and open parking, if applicable.
- Combine these to find the circle rate for residential apartments.
For reliable values for ‘cost per square metre’, it is recommended to consult the official website of the Stamps and Registration Department of Uttar Pradesh or a reputable real estate agent.
Relationship between circle rates and stamp duty
Circle rates and stamp duty are closely related in real estate transactions. Stamp duty, which is a tax imposed on property transactions, is typically calculated based on the higher value between the property’s transaction value and its circle rate. In simple terms, if your property's selling price is lower than the circle rate, you'll end up paying stamp duty based on that circle rate, as it prevents underreporting and tax evasion.
The calculation of stamp duty rates varies depending on the location and is often fixed as a percentage of the property’s value, or circle rates.
Things to remember when calculating the circle rate in Noida
Check the current circle rate list
Make sure you have the most up-to-date information on circle rates from local authorities in Noida or government sources.
Check the property type
Remember that circle rates vary depending on whether the property is residential, commercial, or industrial.
Check location
Circle rates are different from one location to another. Noida is divided into different sectors, and each sector might have a different circle rate.
Check for regular updates
Stay informed by regularly checking for updates from the Noida authority regarding circle rates and other important real estate matters.
Conclusion
Circle rates are important because they serve as a benchmark for property transactions. By knowing how to check and calculate circle rates, you can ensure fair transactions.
If you are planning to buy real estate, it's wise to explore financial solutions that match your objectives. SMFG Grihashakti provides home loans up to 90% of the property’s value at affordable interest rates and flexible tenures of up to 30 years*. We make every step easy from eligibility verification to EMI calculation. Apply online for a home loan or contact us to know more.
FAQ's
What exactly are circle rates and how do they work?
Circle rates are minimum property values set by the government to ensure fair pricing and prevent tax evasion. Taxes and fees are calculated based on either the transaction value or the circle rate, whichever is higher.
How often are circle rates revised in Noida?
Circle rates in Noida are revised periodically or as per the discretion of the local authorities to reflect changes in market conditions and property values.
Can circle rates be challenged or appealed?
Yes, circle rates can be challenged or appealed by property owners if they believe the rates are unjust or inaccurate. This typically involves submitting an appeal to the relevant government authority.
How do circle rates affect home buyers and sellers?
Circle rates impact home buyers and sellers by serving as a reference point for calculating property taxes, stamp duty, and registration charges.
Are there any exemptions or discounts available?
Yes, specific types of properties in India are exempt from circle rates or may qualify for discounts. The availability and extent of these exemptions or benefits can differ depending on the jurisdiction and area. Some common examples are agricultural land, charitable or religious institutions, and affordable housing.
Disclaimer: *Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG Grihashakti. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG Grihashakti’s policy at the time of loan application. If you wish to know more about our products and services, please contact us.