Circle Rate in Noida : Overview, Latest Update & Impact

If you’re curious about what circle rates are and why they’re important, you’ve come to the right place. Here, we’ll dive into the world of circle rates in Noida, 2024. Noida has seen updates to its circle rates, which are now sector-wise and also depend on the width of the roads in those sectors. From old circle rates to the current updates, there’s a lot to catch up on. Whether you’re interested in the circle rate for plots, residential apartments, or builder floors, we’ve got all the latest news for Noida’s circle rates right here. 

Understanding these rates is an important step, as they influence property values across Noida. So, let’s break down what circle rates are, explore the sector-wise rates, and discuss how these figures impact buyers, sellers, and the real estate market as a whole.

What are the Circle Rates in Noida? 

Before jumping onto the numbers, let’s understand what the circle rate actually means. You can understand the circle rate as a price per unit area that government authorities have determined. These prices can be applied to a property or land in the locality. No transactions can be made below these prices or circle rates. 

The vast nature of the cities is responsible for the varied circle rates in different localities. Circle rates in Noida may be different from one another based on the sectors where the property is located. 

Latest Updates on Circle Rate in Noida

The circle rates in Noida, 2024, have been updated. These rates vary depending on the sector and the width of roads within those sectors. For residential areas, the rates are based on roads that are 12 metres, 12–18 metres, 18–24 metres, and above 24 metres wide. The circle rates start at INR 52,500 for 12-metre roads and go up to INR 60,400 for roads above 24 metres in some sectors like 1–12, 22, 42, 43, 45, 70–79, 107, 110, 119–121, 123, 125–137, 142, 143, 143B, 144, 151–157. The rates for higher-end sectors like 14, 14A, 15A, 16, 16A, 16B, 17, 18, 30, 35, 36, 38, 38A, 39, 44, 50, 51, 52, 94, and 124 start at INR 1,03,000 for 12-metre roads and go up to INR 1,19,000 for roads above 24 metres. These variations reflect the different property values across Noida’s various areas. 

Commercial properties in Noida have higher circle rates. Recent times show that the circle rates for residential plots are generally higher than those for independent homes within the same sector. High-rise apartments receive a relief of 2% per level from the government, applicable up to 20% for buildings with four stories or more.

Circle Rate in Noida Sector Wise (Sqft/mtr)

Below-mentioned is the table containing circle rates in Noida according to sectors and road width:

Factor Affecting Circle Rates in Noida

There are multiple factors affecting circle rates in Noida. These factors are varied and reflect the local real estate market dynamics. All these factors are critical in determining the minimum value at which a property must be registered. Below are the key factors affecting circle rates:

• Location: Well-developed areas with prime locations often have higher circle rates than less developed regions. The demand for properties in prime locations leads to an increase in circle rates.

• Market Demand: The high market demand for properties in a specific area becomes a reason for increased circle rates. Areas considered real estate hotspots will see an uptick in rates due to their popularity among buyers.

• Infrastructure Development: Circle rates can easily rise in areas experiencing significant infrastructural development. This includes the construction of roads, public facilities, and other amenities that make an area more desirable.

• Government Policies: Government policies cannot be overstated in their influence on circle rates. Changes in regulations, such as increases in stamp duty rates or registration charges, can directly and substantially impact the costs of property transactions.

• Market Trends: Overall, market trends significantly influence circle rates. A thriving, growing real estate market leads to higher circle rates, while a downturn can decrease them.

• Connectivity: Areas near job centres or with excellent connectivity, such as those along the Noida-Greater Noida Expressway, are attractive to investors and homebuyers, influencing circle rates. The expressway has become a popular location due to its great connectivity and prime position, further impacted by the construction of reputable residential and commercial projects.

How to Check Circle Rate in Noida?

If you wish to check the circle rate in Noida, all you need is the internet. You can follow these steps to check the circle rates in Noida in 2024:

• Visit the official website of the Stamps and Registration Department of Uttar Pradesh.
• Click on the ‘Enter ‘button and proceed forward.  
• Provide the required details from the evaluation list. These details are for the sub-register office and district office. 
• Click on ‘View Details’ to see the district-specific list of circle rates.

How to Calculate the Circle Rates in Noida for Different Property Types

Calculating the circle rate varies across different types of properties. Here’s how to compute the circle rates for various property types:

• Builder Floors on Independent Plots: To calculate the circle rate value for builder floors, you need to determine the value of the land and the construction cost. First, you need to find the value of the land by multiplying the circle rate for land in the locality (₹ per square metre) by the proportional share of the plot area. Then, calculate the construction cost by multiplying the built-up area by the lowest cost per square metre. Now, combine these two components, and you will get the circle rate value for builder floors.

• Plots: In Noida plot circle rate calculation is simpler. All you need to do is multiply the circle rate applicable to land by the plot’s area in square metres. This gives the circle rate valuation for plots.

• Residential Apartments: The calculation of circle rates for residential apartments involves three main parts. First, you need to multiply the circle rate for flats (₹ per square metre) by the built-up area of the flat. This includes the total percentage loading for amenities and floor relief. Then, add the value of covered car parking by multiplying ₹300,000 by the number of slots. In the case of open car parking, multiply ₹150,000 by the number of slots. This method applies to specific flats, such as those under the Noida Authority, Shramik flats, and ESW flats. The sum of these components gives the circle rate value for residential apartments.

• House Constructed on Plot: For a house constructed on a plot, first calculate the construction cost adjusted for the building’s age. This can be done by multiplying the construction cost per square metre by the built-up area. Then, calculate the land value by multiplying the circle rate for land by the plot’s area in square metres. The sum of these two gives the circle rate valuation for a house constructed on a plot.

Things to Remember While Calculating the Circle Rates in Noida

Calculating the circle rates can be a tricky situation, but it is not rocket science. This tricky situation can be turned into an easy one by remembering the key aspects that can affect your accuracy in calculating these rates. Here are some things to remember while calculating the circle rates in Noida:

• Check the Latest Circle Rates: Circle rates may change over time, so it’s important to be aware of the latest rates published by the Noida authority. 

• Area and Sector-Specific Rates: Noida is divided into different sectors. Depending on its location, infrastructure, and development status, each sector might have a different circle rate. Make sure that you’re looking at the rate applicable to your property’s specific sector.

• Property Type: Circle rates in Noida can vary significantly based on the type of property. Don’t forget to use the correct category when calculating your property’s circle rate.

• Built-Up Area vs. Plot Area: The circle rate for constructed properties may consider the built-up area. However, the rate for plots is usually based on the land area. If you understand this difference, you can apply the rates accordingly.

• Amenities and Facilities: Properties with additional amenities, such as a swimming pool, garden, gym, etc., might attract a higher circle rate. This is because these amenities add value to the property.

• Age of the Property: The age of the building can influence the circle rate, especially for residential and commercial buildings. The latest properties might have a higher rate compared to older constructions due to their updated facilities and compliance with modern building codes.

• Regular Updates: Keep an eye out for the notifications on your phone from the Noida authority regarding revisions in circle rates. Now, this is important, especially if you’re planning a property transaction in the near future. Even a slight change in the circle rates can affect the transaction value.

Wrapping Up

In the end, understanding Noida’s circle rate is essential for anyone involved in property transactions. Whether you’re buying a plot, an apartment, or a builder’s floor, knowing the circle rates in Noida sector-wise and how they are calculated will help you make the transactions in the real estate market more effective. Remember, the factors that influence these circle rates should be in your mind to ensure you make informed decisions. With that being said, stay updated on the news regarding these rates to secure the best deals in Noida’s popular property universe.

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