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Delhi Hikes Circle Rates For Agricultural Land

Circle rate is the minimum value at which the sale or transfer of a plot, built-up house, apartment or a commercial property can occur. Circle rates are the minimum property prices designated by the state government, below which sales transactions cannot take place. The circle rates related to residential, commercial and industrial properties.<br>Read more at https://www.bajajfinserv.in/circle-rate-in-delhi

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Delhi Hikes Circle Rates For Agricultural Land

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  1. A Simple Introduction to the Circle Rate in Delhi

  2. Small Brief About Circle Rate Land is an asset, whether it falls under the residential, commercial, industrial, or agricultural categories. As such, it is important that you, as a landowner or as an individual interested in owning land, are aware of the factors that affect its valuation. While age, condition, and type of land are key factors, another important one to note is the Ready Reckoner Rate (RRR) or the circle rate. Simply put, circle rate is the minimum price per unit area for a property. It is determined by the respective state government meaning the circle rate in Delhi can differ from the circle rate in Gurgaon, and both these can differ from the circle rate in Kolkata. Each of them indicates the lowest possible cost at which property transactions take place in that particular locality.

  3. As such, the circle rate dictates the lowest amount against which the stamp duty and registration charges are levied. It is important to note that the circle rate in Delhi only points to the lowest possible value for property transactions and is not indicative of the actual value of any property. Circle rate is different from the market value, which is usually higher in most cases. All in all, the circle rate in Delhi serves as a benchmark for property transactions and being aware of this value helps both buyers and landowners.

  4. What is the Current Circle rate in Delhi for Residential Plots?

  5. What is the Circle Rate in Delhi for Flats?

  6. What is the Circle Rate in Delhi for Agricultural Land?

  7. How To Calculate a Property’s Value Using the Circle Rate? To calculate a property’s value, here are the steps to follow. • Calculate the area of the plot/ built-up area of the property • Note the property type and locality • Find the applicable circle rate • Calculate the minimum assessed value • For residential apartments: Multiply the built-up area (sq.m.) into the applicable circle rate in Delhi for flats (Rs./sq.m.) • For plots: Multiply the area of the plot (sq.m.) into the circle rate for land in that locality (Rs./sq.m.)

  8. THANK YOU

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