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Circle Rates in Bangalore

Circle Rate in Bangalore

Bangalore's real estate market is thriving. If you're also planning to invest in the city's real estate, it's crucial first to understand the prevailing circle rates. Also known as the guidance value, Bangalore's circle rate is essential for calculating stamp duty and registration fees. It varies across different localities and ensures properties are not undervalued in transactions.

Current circle rate list in Bangalore 2024

Here's a list of the prevailing circle rate in Bangalore:

Circle rates in Bangalore for commercial and residential plots in 2024

The circle rates in Bangalore vary depending on a host of factors, one being the type of property you're buying or selling. Since commercial properties have a higher income-generating potential, they have higher circle rates than residential properties. Moreover, prime locations typically have higher circle rates due to their commercial importance. On the other hand, residential plots in suburban areas or outskirts have relatively lower rates. This difference in circle rates ensures a fair valuation of the property's transaction and maintains transparency.

Circle rates for agricultural land in Bangalore

The ready reckoner rate in Bangalore for agricultural land is typically lower than for residential and commercial properties. Moreover, it depends on factors like the location of the land, proximity to urban development, and accessibility to infrastructure. As such, areas closer to the city or with upcoming development projects may have higher circle rates.

Here are the ready reckoner rates in Bangalore for agricultural land in 2024:

Location	Circle rate
Agriculture land (Kushki) at Ajjayyanahundi	Rs. 51 lakh/acre
Arasinakere	Rs. 5 lakh/acre
Thari land at Ajjayyanahundi	Rs. 53 lakh/acre
Udbur (MUDA Limits)	Rs. 22 lakh/acre
House sites approved by the Development Authority	Rs. 4,750/sq.mt
Kadakola	Rs. 35 lakh/acre
House sites at Ajjayyanahundi	Rs. 10,900/sq.mt
Agricultural land (Kushki) at Chowdahalli	Rs. 30 lakh/per acre
Agricultural land at Ayarahalli	Rs. 8.5 lakh/acre
House sites at Ajjayyanahundi	Rs. 4,750/sq.mt
Thari land at Ayarahalli	Rs. 9 lakh/acre
House sites approved by the Development Authority	Rs. 10,900/sq.mt
Govt Uthanahalli (MUDA limits)	Rs. 32 lakh/acre
Inam Uthanahalli	Rs. 8 lakh/acre
Amchawadi Village in Yelwal Hobli	Rs. 3.50 lakh/acre
Anandur	Rs. 20 lakh/acre
Govt Uthanahalli (MUDA limits)	Rs. 32 lakh/acre
Yelwal Hobli MUDA limits, Mysuru-Hunsur Road	Rs. 35 lakh/acre
Anaganahalli under Mysuru West Office limits	Rs. 8 lakh/acre

Circle rates in Bangalore according to age factor

When buying real estate in Bangalore, the circle rate is based on the property's age, which influences its value. Newer properties have a higher circle rate due to their modern amenities and better infrastructure. On the other hand, as the property ages, its circle rate decreases due to depreciation and wear and tear.

The property's age is factored in as a multiplier for calculating its value. New buildings or properties built within the last few years typically have a higher multiplying factor, increasing their circle rate. Whereas old properties, especially those over a couple of decades old, have a lower multiplying factor, reducing their circle rate. This is because newer properties are considered more desirable, while older properties have outdated facilities and high costs of repairs.

How to calculate property value in Bangalore using circle rate for stamp duty payment?

Calculating a property's value using Bangalore's circle rate is essential to determine the applicable stamp duty on the transaction. You can use this formula to calculate a property's circle rate in Bangalore easily:

Property Value = Circle Rate per square foot/meter × Total built-up area of the property

Remember, the circle rate for calculating stamp duty can differ based on the property type and other factors. So, consult local authorities or a real estate professional for accurate calculations and compliance with current regulations.

Formula for calculating property value

You can calculate Bangalore's circle rate using this formula:

Property Value = Circle Rate per square foot/meter * Total built-up area of the property

What does the circle rate in Bangalore depend upon?

The circle rate in Bangalore depends on several factors, such as the property's location, age, and type. Properties with modern infrastructure and better connectivity typically have higher circle rates, while more remote or underdeveloped areas have lower rates. Similarly, commercial properties generally have higher circle rates than residential ones due to their high income-generating potential.

Moreover, the property's age also plays a significant role in determining the circle rate. Newer properties have higher circle rates as they come with modern amenities and infrastructure, whereas older properties have lower rates due to depreciation and the high cost of repairs.

Age factor and its impact on circle rate in Bangalore

The age of property in Bangalore significantly affects its ready reckoner rate and valuation. Newer properties generally have higher circle rates due to their modern design, premium amenities, and better overall condition. They are more desirable, increasing their market value.

On the other hand, older properties tend to have lower circle rates due to wear and tear and potential maintenance issues. This makes it less appealing to buyers, lowering the circle rate.

Understanding the significance of circle rate in Bangalore for real estate transactions

The circle rate in Bangalore outlines the minimum value of properties set by the government. It directly impacts the stamp duty and registration fees, promoting transparency in the real estate market. By providing a standardised valuation, the circle rate helps buyers and sellers set realistic property price expectations, preventing undervaluation and fraudulent practices. Circle rates also help determine the eligibility for a home loan and the maximum amount you can borrow.

Disclaimer: The rates can vary at the discretion of the state government. Kindly check the official website for existing rates.

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Circle Rate in Bangalore