All About Circle Rate in Gurugram

December 26, 2023 in Property Guide

All About Circle Rate in Gurugram

Circle rate refers to the lowest price for which a property can be registered in the state. The circle rate across the country usually varies depending on the state and city. In terms of the city and state, the circle rate would vary depending on the locality. With the help of circle rates, governments are usually able to regulate property value.

Circle rate also plays an important role in prompting points of calculation and ensuring the right registration fees are calculated. The Government of Haryana has also implemented Circle Rates in Gurugram to regulate property prices. The government also brings respective changes yearly across a few sectors, especially in the commercial domain.

The blog will carefully explore the circle rate in Gurugram and what are the latest updates regarding the reckoner rate in Gurugram. However, you must first learn the difference between the circle rate and the market rate of a property.

How is the Property's Circle Rate Different from the Market Rate?

Usually, the circle rate of a property is less than the market rate. Contrary to the circle rate concept, the government does not have any role to play in determining the market rate of the property. Instead, the market rate of a property is determined by the seller. The seller usually sets the market rate based on the current market conditions and price expectations.

Buyers will however have to purchase the property assessing the market rate. This plays an important role in helping them make an informed decision. It is also important to understand the overall property worth and then negotiate the deal with the seller to reach a mutual price.

=> Read Also:- What is Circle Rate?

Latest Update Regarding Circle Rates in Gurugram

The State Government of Haryana has recently increased the circle rate prices across the city. Although this increase will not have an immediate impact on the property prices, it will affect the registries. According to the new update, areas close to Dwarka Expressway, Golf Course Road and Southern Peripheral Road will have an increase in circle rates by 30%. On the other hand, the circle rate for commercial hubs will also go up by 10%.

The Government of Haryana participates in increasing the circle rate so that the government can prevent fraudulent activities, especially in terms of stamp duty evasion. Property buyers have the flexibility to determine immovable property valuation of a respective area by following circle rates. This will indeed help to calculate the registration charges that are to be paid to the authority during the transaction. Since the circle rates will vary depending on property type, area and size, it is important to compare the details accordingly.

According to the new updates of the Circle Rate in Gurugram, the current standing circle rates are as follows:

Sector Circle rate per square ft
Sector 63 Rs 3,500
Sector 62 Rs 3,500
Sector 61 Rs 3,500
Sector 60 Rs 3,500
Sector 59 Rs 3,500
Sector 58 Rs 3,500
Sector 57 Rs 5,000
Sector 56 Rs 5,000
Sector 55 Rs 5,000
Sector 54 Rs 5,000
Sector 53 Rs 5,000
Sector 52 Rs 5,000
Sector 51 Rs 5,000
Sector 50 Rs 5,000
Sector 46 Rs 5,000
Sector 43 Rs 5,000
Sector 41 Rs 5,000
Sector 40 Rs 5,000
Sector 31 - 32A Rs 5,000
Sector 30 Rs 5,000

Circle Rate for Residential Plots in Gurugram

The circle rate for residential plots also varies in Gurugram. The table below provides an insight into the circle rate for residential properties in Gurugram:

Locality Circle rate per square ft
License colonies in Sectors Rs 2,830
Palam Vihar Rs 6,600
DLF Phase II Rs 7,000

The circle rate for residential plots in Gurugram differs from that of the multi-storeyed buildings.

Circle Rate for Multi-Storeyed Apartments in Gurugram

The circle rate for multi-storeyed apartments in Gurugram will vary significantly, especially in terms of location. However, going forward these circle rates will further vary depending on the government's discretion. The table below discusses the circle rate for multi-storeyed apartments in Gurugram:

Locality Circle rate (per sq ft)
DLF Colony Old Rs 6, 000
Housing Board Colony Rs 3,800
Sectors 104 to 115 Rs 3,000
Sectors 1, 2, 3, 3A, 4, 5, 6, 7, 12, 12A, 13, 14, 15, 16, 17, 21,22, 22A, 23, 23A, 38, 40 42, 43 Rs 5,000

Circle Rate for Properties in the HUDA Sector

The government has levied different circle rates for the properties located in the HUDA Sector. Each sector and locality will have differences in the circle rates. The table below discusses the circle rate for properties in the HUDA sector:

Location Circle Rate (Per Sq. Yard)
Sectors 104, 105, 106, 109, 110, 110A, 111, 112, 113, 114 ₹44,000
Sectors 1, 2, 3, 3A, 4, 5, 6, 7, 12, 12A, 13 ₹48,000
Sectors 21, 22, 22A, 23, 23A ₹48,000
Sector 38 ₹54,000
Sectors 14, 15, 16, 17, 40 ₹65,000
Sectors 42, 43 ₹66,000

Now that you’re aware of the circle rates for properties in Gurugram, it is also important that as a buyer you’re familiar with the factors affecting the reckoner rate in Gurugram. This would play an important role in making the right decision in respect to property valuation while purchasing the property.

Factors Affecting the Circle Rates in Gurugram

Some of the major factors affecting the circle rates in Gurugram are as follows:

  • Determining the circle rate would mean that it assesses the minimum property valuation. Thus, any factor that affects the price of the property will also affect the circle rate.
  • The properties that are located close to commercial sectors like public landmarks or business hubs will have a higher circle rate as compared to others.
  • If any property is located in a remote area, the market value of the property will be lower. Thus, the circle rate of the property will be lower too.
  • The circle rate will also be affected by the tier of the city and the presence of surrounding facilities.

When you’re setting out to purchase a property in Gurugram, not only should you determine the factors affecting the price, but also know its importance. Knowing the importance of circle rate in Gurugram will make it easier to understand why you should purchase the property in that respective location.

=> Read More:- Common Land Measurement Units Used in India - Land Area Units

Importance of Circle Rates While Purchasing a Property

Some of the prominent importance of circle rate that you will need to consider while purchasing a property in Gurgaon include the following:

  • Taxation

    : Circle rate is extremely important in tax calculation. The government often uses the minimum property value, revolving around circle rates as a proper calculation factor in order to calculate the tax that will be due on the particular property.
  • Property Registration

    : Property registration and stamp duty calculation are some of the prominent things in real estate transactions. In Gurugram, the Government uses circle rate as one of the major factors for calculating stamp duty. Furthermore, it also helps in the calculation of property registration charges.
  • Legal Disputes

    : In case there is any legal dispute on the property, the court will want to check the circle rates in order to resolve the disputes.

How to Determine Property Valuation in Gurgaon Using Circle Rate?

Mostly, checking the circle rate in Gurgaon is important to understand the stamp duty fee and registration charges. The universal formula to calculate property registration and stamp duty charges is as follows:

Value of a property = Circle rate in Rs./sq ft x Built-up area in sq ft

If you are planning to check the circle rate of a property in Gurgaon, below are all the steps that you must follow:

  • The circle rates for almost all localities in Gurugram are given in the list above. You should check the circle rate for the respective property.
  • You need to understand the type of property or the plot/land that you will be purchasing.
  • You should also check the other factors that will affect the property valuation.
  • Once you have received the values, you should enter them in the formula given above and understand the property value.

Conclusion

As a buyer, not only should you be aware of the market value but also of the circle rate, so that you can make an informed decision while purchasing the property.

Are you looking for the best property in Gurugram within your budget complying with all the legal standards? You should check out the flats for sale in Gurugram by Adani Realty. There are several plush properties in Gurugram.

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The Adani Realty expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this Blog. The content of this blog is collation of data from various sources and is provided only for information purpose only and Adani Realty does not canvass the particulars, information, brand or any other materials mentioned in the blogs nor does it obtain any monetary benefit from the same.The Adani Realty shall in no circumstance be held liable for any expense, loss or damage including, without limitation, direct, indirect or consequential loss or damage, or any other expense, loss or damage whatsoever arising from the use of data, information, interpretation, judgement or opinion arising out of or in connection with the use of this Blog. Reader is advised to read and apply his/ her intellect and discretion in this regards.

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