#homeloan
Know more about Home Loans
0:50
As a resident of Lucknow, it is essential to understand the concept of circle rate and its significance in the real estate market. Circle rate is the minimum rate at which a property can be registered or transferred in a particular area. It is determined by the local government authorities and plays a crucial role in property transactions and taxation.
Understanding the concept of circle rate and its implications in the real estate market is crucial for residents of Lucknow. The circle rate acts as a benchmark to determine the minimum price at which a property can be registered, preventing underreporting of property values. It also plays a significant role in property valuation, taxation, and ensuring fair transactions. By staying updated with the current circle rate list in Lucknow and understanding the factors that influence circle rates, property buyers and sellers can make informed decisions and navigate the real estate market with confidence. It is advisable to consult real estate professionals or legal experts to ensure compliance with the prevailing circle rates and regulations. With a comprehensive understanding of circle rates, Lucknow residents can engage in property transactions confidently and contribute to the growth and development of the city's real estate sector.
Circle rate in Lucknow refers to the minimum price per square foot at which a property can be registered in the city. It is determined by the local administration and is revised periodically to keep up with the changing market conditions. The circle rate acts as a benchmark to prevent underreporting of property values during transactions and ensures fair dealings in the real estate sector.
Area/Locality | Circle Rate (per sq m) |
---|---|
From Chinhat village to Satrikh | Rs. 14,000 |
Sultanpur Road and Shaheed Path | Rs. 25,000 |
Hardoi Road | Rs. 20,000 |
From Chinhat village limit to Lucknow city limit (Faziabad Road) | Rs. 30,000 |
Sitapur Road | Rs. 39,000 |
From Subhash Marg Medical College to Charbagh Tiraha | Rs. 31,000 |
From Telibagh Nagar to PGI Nagar Nigam limit | Rs. 31,000 |
From Guru Govind Singh Marg Hussainganj Chauraha to Naka Chauraha | Rs. 31,000 |
From Charbagh Station to Awadh Hospital | Rs. 55,000 |
From Kaiserbagh Chauraha to Charbagh | Rs. 55,000 |
From Singar Nagar Chauraha to Hydel Chauraha | Rs. 76,000 |
Mahatma Gandhi Marg | Rs. 76,000 |
From Hazratganj Chauraha to Kalidas Marg Chauraha | Rs. 76,000 |
Vibhuti Khand | Rs. 40,000 |
Faziabad Road | Rs. 36,000 |
Edelco Green, Vipul Khand | Rs. 39,500 |
Vijay Khand, Vijay Khand, Vipin Khand, Vishal Khand | Rs. 33,500 |
Gautam Palli, Gulistan Colony, Transport Nagar | Rs. 28,000 |
Rana Pratap Marg | Rs. 29,000 |
Gomti Nagar Phase 3, Gomti Nagar Extension, Gomti Greens, Vaibhav Enclave, Vikas Khand, Vinay Khand , Vastu Khand, Vinit Khand, Vikrant Khand, Vishwas Khand, Vinagra Khand, Vibhav, Vivek Khand, Vijyant Khand, Vishesh Khand, Vikalp Khand, Virat Khand, Viraj, Viram Khand | Rs. 30,500 |
AP Sen Road | Rs. 26,000 |
Park Road, Park Lane, Mahatma Gandhi Marg, Motilal Nehru Road, Miling Toniya Road, Vidhan Sabha Marg, Vivekanand Marg, Vikramaditya Marg | Rs. 27,500 |
Gautam Budh Marg, Charbagh | Rs. 25,000 |
Ashiyana, Jiyamau, Srijan Vihar Colony | Rs. 22,000 |
Saket Palli, Bandriya Bagh, Pirpur Square, Banarasi Bagh | Rs. 22,500 |
Darbari Lal Sharma | Rs. 21,500 |
Ashiyana, Srijan Vihar Colony, Jiyamau | Rs. 22,000 |
Raibareli Road Yojna, Kanpur Road Pariyojana, Eldeco, Sharda Nagar, Aishbagh, Sharda Nagar Yojana, Awadh Vihar Pariyojna | Rs. 19,000 |
Havelock Road, Trilokinath, Manas Nagar, La Martiniere Colony, | Rs. 20,000 |
Guru Nanak Market, Vrindaban Yojan | Rs. 21,000 |
Marutipuram | Rs. 19,500 |
Omaxe City, Alambagh | Rs. 16,000 |
Butler Palace Colony, Butler Ganj, BBD Green City Shahpur | Rs. 18,000 |
Sushant City, from Sector A to E | Rs. 18,500 |
Sarojini Naidu Marg, Canal Colony, Uday Ganj, Chitwapur Road, Mangal Kheda, Uday Ganj Road | Rs. 15,500 |
Aabadi Kabristan Mall Avenue, Vindsor Palace | Rs. 16,500 |
Sushant City, From Sector F to I | Rs. 15,000 |
Calculating the value of a property using the Lucknow circle rates is a straightforward process. Here are the steps to follow:
1. Determine the circle rate applicable to the specific locality and property type from the current circle rate list.
2. Measure the total area of the property in square feet.
3. Multiply the circle rate per square foot by the total area to obtain the property value as per the circle rate.
4. The calculated value can serve as a reference point during negotiations or while estimating the property's worth.
By utilizing the Lucknow circle rates online, property buyers and sellers can make informed decisions and ensure fair transactions.
Several factors influence the circle rates in Lucknow. These factors include the location of the property, proximity to amenities such as schools, hospitals, and transportation hubs, availability of infrastructure and basic facilities, and the overall development of the area. Additionally, market demand, property size, and the prevailing market rates also play a significant role in determining the circle rates. The local government authorities assess these factors and conduct periodic evaluations to revise the circle rates accordingly. It is crucial for property buyers and sellers to stay updated with the current circle rates to make informed decisions during transactions.
Circle rates have a significant impact on the taxation of properties in Lucknow. The stamp duty and registration charges are calculated based on the circle rate or the actual transaction value, whichever is higher. The circle rate acts as a safeguard against underreporting of property values during registration and helps the government collect the appropriate amount of stamp duty and registration fees. It is important to note that the circle rate can vary for different types of properties and can be revised periodically by the local government authorities. Property owners must consider the impact of circle rates on taxation while evaluating their financial obligations.
Understanding the Difference While circle rate determines the minimum price at which a property can be registered, market rate refers to the actual price at which a property is bought or sold in the open market. The market rate is influenced by various factors such as demand, location, amenities, and the overall economic conditions. Circle rate, on the other hand, is fixed by the government and is often lower than the prevailing market rates. It is important to note that property transactions in Lucknow cannot be registered at a price lower than the circle rate. However, if the market rate is higher than the circle rate, the property can be registered at the market rate itself. This allows flexibility in property transactions while ensuring that the government receives its fair share of revenue through stamp duty and registration fees.
The current circle rate list in Lucknow is an essential resource for property buyers, sellers, and real estate professionals. The circle rate list provides detailed information about the minimum rates applicable to different areas and property types in Lucknow. It is categorized based on the locality, property type (residential, commercial, agricultural), and size of the property. The list is readily available on the official website of the Lucknow Development Authority (LDA) and can be accessed by the general public. It is advisable to refer to the current circle rate list before entering into any property transaction to ensure compliance with the prevailing rates and avoid legal complications in the future.
Circle rate plays a crucial role in property transactions in Lucknow. It ensures transparency and fairness in the real estate market by preventing the undervaluation of properties during registration. Property buyers and sellers must be aware of the circle rate applicable to their desired location and property type to avoid any legal complications. Property transactions in Lucknow require the registration of the property at the circle rate or the market rate, whichever is higher. This ensures that the government receives its fair share of revenue through stamp duty and registration fees.
Circle rate plays a vital role in property valuation in Lucknow. It provides a benchmark for determining the minimum value of a property during transactions. Property buyers and sellers can refer to the circle rate to understand the fair value of a property in a particular area. However, it is important to note that the market rate may differ from the circle rate depending on the prevailing market conditions. Property valuation requires a comprehensive analysis of various factors such as location, amenities, market demand, and overall economic conditions. While the circle rate provides a baseline, it is crucial to consider other factors to arrive at an accurate property valuation.
Disclaimer: The rates can vary at the discretion of the state government. Kindly check the official website for existing rates.