Across India, each state establishes circle rates, or the minimum property value to calculate stamp duty on sales, transfers, and purchases. These benchmarks are locality-specific and determined by various parameters. In Uttar Pradesh, the government sets a minimum registration charge for properties in Noida and Greater Noida, often termed the circle rate. Property registration below this rate is not permissible.
Financial bodies recently reviewed Noida's 2022 circle rates to facilitate property loans; circle rates are also known as ready reckoner rates or guidance values. The UP government recently reduced circle rates for commercial properties in developing areas by 21%. Further details are expanded on by PropertyWala.
Circle Rates in Noida 2022: Sector-Wise Breakdown for Flats and Apartments
Flats for economically weaker sections (EWS) in Noida have a circle rate of ₹28,000 per square meter. Shramik Flats have rates of ₹25,000 per square meter. The rates for the remaining flats and apartments are tabulated below:
| Sector | Circle rate for 12m road (Sq Ft/Mtr) | Circle rate for 12m-18m road (Sq Ft/Mtr) | Circle rate for 18m-24m road (Sq Ft/Mtr) | Circle rate for above 24m road(Sq Ft/Mtr) |
|---|---|---|---|---|
| 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 115 | INR 44,000 | INR 42,000 | INR 44,000 | INR 50,600 |
| Sector 54, 57- 60, 63, 63A, 64, 65, 67-69, 80, 81, 83-91, 95, 101, 103, 106, 109, 111, 112, 113, 114, 116, 117, 118 | INR 44,000 | INR 46,200 | INR 48, 400 | INR 50, 600 |
| Sector 104 | INR 44,000 | INR 55,150 | INR 57,750 | INR 60,400 |
| Sector 168 | INR 52,500 | INR 52,500 | INR 57,750 | INR 60,400 |
| 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 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 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 |
Parameters Influencing Circle Rates in Noida
Circle rates are subject to various influencing factors. The following parameters affect these rates in Noida:
- Amenities and Market Values: These significantly impact circle rates. Uttar Pradesh's Stamps and Registration Department considers market value together with available amenities when setting rates in Noida. Luxury apartments typically command higher circle rates due to superior features. For instance, covered parking in Noida incurs a charge of Rs 3 lakh, while open parking costs Rs 1.5 lakh. Societies that offer better amenities generally have elevated circle rates.
The Uttar Pradesh government in Noida also levies additional expenses on common facilities within group residential communities. Some common facilities, and their pertinent additional costs, are described below.
| Common Facilities | Additional cost involved |
|---|---|
| Closed car parking | INR 3 lakhs |
| Open car parking | INR 1.5 lakhs |
| Community center | 2% of area's circle rate |
| Gym | 2% of area's circle rate |
| Swimming pool | 2% of area's circle rate |
- Types of Property: Circle rates vary with property type, whether flats, independent houses, apartments, or plots, even within the same sector. Government charges are comparatively higher for commercial properties than for residential ones. Additionally, in buildings featuring four or more floors, a 2% relief per floor on the minimum value extends to high-rise apartments, capped at 20%.
Importance of Circle Rates in Noida
Property Registration: Buyers with knowledge of their property's circle rate can smoothly navigate registration by paying the defined stamp duty and registration fees, thereby ensuring legal property registration solely within Noida.
Property Valuation: Individualscan evaluate the base value of property by consulting Noida's circle rates. They can visit Uttar Pradesh state Government's stamps and registration charges portal and locate the circle rate list for the desired locality.
Reduced Risk of Fraudulent Transactions: A key effect of fixed property valuation and open disclosure of circle rates is the reduction of fraud whenever property transactions happen in Noida.
Revenue Generation: The state government in Noida calculates circle rates and approves stamp duty percentages based on location such as rural, urban, and prime areas. This system allows the state to generate revenue through stamp duty and registration fees during property registration.
How to Check the Latest Circle Rates in Noida Online
To check circle rates for a property in your preferred locality in Noida, follow these steps:
Step 1: Visit the Stamps and Registration Department of UP's website to check circle rates in Noida.
Stamps & Registration Department, UP Website Homepage
Step 2: Click on the enter button to be redirected to the following page.
Stamps & Registration Department, UP Website Homepage
Step 3: Provide the evaluation list details, including District and Sub-Registrar Office, to find the current circle rate in Noida.
Evaluation List Details
Step 4: To finish, click on View details to access the circle rate list for the selected District.
Circle Rates in Noida