As one of the most important commercial centers in Delhi NCR, Noida Sector 18 has a lot to offer for businesses and individuals alike. However, when it comes to buying or selling property in this area, one term that is often mentioned is 'circle rate.' In this article, we will explore what circle rate means in the context of Noida Sector 18 and how it affects property transactions in the area.
What is Circle Rate?
Circle rate, also known as the Guidance Value, is the minimum value at which the State government can register a property transaction. This rate is determined by the local government authorities and is used as a benchmark for property valuation. Circle rate is usually lower than the market rate, and it is intended to prevent tax evasion and black money transactions in the real estate sector.
To know latest property rates in Sector 18 Noida, click here
Circle Rate in Noida Sector 18
In Noida Sector 18, the circle rate is determined by the Uttar Pradesh Stamp and Registration Department, and it is revised periodically based on market trends and other factors. The circle rate is different for different localities and is based on various factors, such as the age and condition of the property, the location, the amenities available, and the demand for property in the area.
Circle rates for residential properties in Sector 18, Noida
Location | Circle rate (per sq m) |
---|---|
12 m to 18 m road | Rs 1,08,700 |
18 m to 24 m road | Rs 1,13,850 |
24 m road and above | Rs 1,19,050 |
Circle rates for commercial properties in Sector 18 Noida
Plot size (sq m) | Circle rate (per sq m) |
---|---|
Up to 100 | Rs 4,45,000 |
100- 1000 | Rs 4,00,000 |
1000-10000 | Rs 3,60,000 |
How does Circle Rate affect property transactions?
When a property transaction takes place in Noida Sector 18, the circle rate is used as a reference point for calculating the stamp duty and registration fee that the buyer has to pay. The stamp duty is a tax levied on the sale of property, and it is usually a percentage of the property value. The registration fee is a one-time fee that is paid for registering the property transaction with the local government authorities.
If the sale price of the property is lower than the circle rate, the stamp duty and registration fee will be calculated based on the circle rate. This means that the buyer will have to pay a higher amount of tax than if the sale price was higher. On the other hand, if the sale price is higher than the circle rate, the stamp duty and registration fee will be calculated based on the sale price, and the buyer will have to pay a lower amount of tax.
See our latest webstory on Know the latest circle rates in Sector-18 Noida!