Proper valuation of properties can be ascertained with the help of circle rates applicable in the specific area in which the property is located. Each locality can have a different circle rate. In India, circle rate depends on several different factors, but it is the state government that is tasked with the important task of deciding the circle rate.
Governments decide the circle rate to calculate the minimum value of a property, based on which stamp duty is levied. Whenever a property is sold and the ownership of the property is transferred, government levies stamp duty on the transaction. For levying stamp duty on real estate transactions, the circle rate or the real transaction value is used. Between the two, stamp duty is charged on the higher amount. For Noida properties, best property valuation can be decided after knowing the circle rate applicable in various localities of Noida.
Factors That Affect Circle Rate in Noida
The Stamps and Registration Department of the Uttar Pradesh government is responsible for fixing circle rates in the cities falling within the territory of the state. Circle rate in Noida is different for different localities. Such is the case because Circle Rate in noida is decided keeping in mind the facilities available in the area. Thus, apartments and societies with fantastic facilities have higher circle rate as compared with areas where these amenities are not available. For housing societies, particularly the swanky ones, facilities attract costs for evaluating circle rate.
- The facility of open car parking involves an additional cost of INR 1.5 lakh. For covered car parking, this cost is INR 3 lakh.
- On facilities like swimming pool, gym and community centre, the additional cost is 2% on each of these facilities of the Circle Rate in noida applicable in the area.
- The cumulative extra charge has been capped at 15%.
While deciding the circle rate, the average market value of the property is also considered. For residential units, the age of the property also affects circle rates in Noida. Also, for different kind of properties, different circle rate is applicable in Noida. For example, for residential properties, the circle rate is lower as compared to Loan against commercial property.
Circle Rate in noida List
Localities of Noida can be identified through sectors. Here is a sector-wise Circle Rate in noida list for residential properties, based on the details issued by the Stamps and Registration Department of Uttar Pradesh:
| Sector name | Road length: up to 12 meter | Road length: between 12 and 18 meter | Road length: between 18and 24 meter | Road length: more than 24 meter |
| 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 22, 42, 43, 45, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 104, 107, 110, 119, 120, 121, 123, 125, 126, 127, 128, 129, 130, 131, 132, 133, 134, 135, 136, 137, 142, 143, 143B, 144, 151, 152, 153, 154, 155, 156, 157, 168 | 52500 rupees per square meter | 55150 rupees per square meter | 57750 rupees per square meter | 60400 rupees per square meter |
| 66, 102, 115, 138, 139, 140, 140A, 141, 145, 146, 147, 148, 149, 150, 158, 159, 160, 161, 162, 163, 164, 165, 166, 167, Noida Phase 2, NEPZ | 40000 rupees per square meter | 42000 rupees per square meter | 44000 rupees per square meter | 46000 rupees per square meter |
| 54, 57, 58, 59, 60, 63, 63A, 64, 65, 67, 68, 69, 80, 81, 83, 84, 85, 86, 87, 88, 89, 90, 91, 95, 101, 103, 106, 109, 111, 112, 113, 114, 116, 117, 118 | 44000 rupees per square meter | 46200 rupees per square meter | 48400 rupees per square meter | 50600 rupees per square meter |
| 15, 19, 20, 21, 23, 24, 25, 25A, 26, 27, 28, 29, 31, 32, 33, 34, 37, 40, 41, 46, 47, 48, 49, 53, 55, 56, 61, 62, 82, 92, 93, 93A, 93B, 96, 97, 98, 99, 100, 105, 108, 122 | 72000 rupees per square meter | 75600 rupees per square meter | 79200 rupees per square meter | 82800 rupees per square meter |
| 14, 14A, 15A, 16, 16A, 16B, 17, 18, 30, 35, 36, 38, 38A, 39, 44, 50, 51, 52, 94, 124 | 103000 rupees per square meter | 109000 rupees per square meter | 114000 per square meter | 119000 rupees per square meter |
There are many high-rise residential societies in Noida. As per the state government guidelines, there is a provision of floor relief for houses on the fourth floor and above, which is 2% for houses in high-rise buildings. This floor relief is capped at 20%.
If you know the Circle Rate in noida and other provisions, calculating the best price of property in Noida can be easy. Here is a formula you can use to calculate the value of property:
Built-up area (square meter) x circle rate of the area (per square meter) x (1+amenity charge) x (1—floor relief) + (number of open parking lots x 150000) + (number of closed parking lot x 300000).
