A Quick Overview on the Circle Rates in India’s Top 10 Cities

Estimated reading time: 9 minutes

Understanding circle rates is crucial for navigating real estate transactions in India. Also known as guideline property rates, circle rates determine the minimum value at which a property can be registered during a transaction.

If you want to know about the details of circle rates in different cities in India, then this article is a must-read. In this overview, we’ll explore the circle rates of India’s top 10 cities, providing insights into prevailing rates, influencing factors, and their significance in the real estate landscape.

What is the importance of Circle Rates?

They help in regulating real estate transactions and ensuring fairness in property deals. Their importance lies in:

Benefit	Details
Preventing underreporting of property values	Circle rates establish a minimum value for properties, preventing sellers from undervaluing their properties to evade taxes.
Ensuring revenue generation	By setting minimum property values, circle rates help governments collect appropriate stamp duty and registration charges, contributing to revenue generation.
Facilitating transparency	Circle rates provide transparency in property transactions by setting clear guidelines for property valuations, reducing the potential for fraud or disputes.
Reflecting market dynamics	Circle rates are often revised to reflect changes in property market conditions, ensuring that property transactions remain aligned with current market values.

Circle rates in India’s top 10 cities

In Indian real estate circle rates are vital in transactions, shaping the dynamics of major urban markets.

Let’s analyze circle rates of India’s top cities like Delhi, Mumbai, Bangalore, Kolkata, Chennai, Hyderabad, Pune, Ahmedabad, Jaipur, and Chandigarh.

City 1: Delhi

As the capital city, Delhi boasts diverse real estate landscapes. The rates in Delhi vary significantly depending on factors such as location, infrastructure, and demand-supply dynamics. Prime areas like Connaught Place and South Delhi command higher rates compared to suburban regions.

Area	DDA, society flats (per square mtr)	Private builder flats (per square mtr)
Up to 30 sqm	Rs 50,400	Rs 55,400
30-50 sqm	Rs 54,480	Rs 62,652
50-100 sqm	Rs 66,240	Rs 79,488
Over 100 sqm	Rs 76,200	Rs 95,250
Multi-storey apartment	Rs 87,840	Rs 1.1 lakh

City 2: Mumbai

Mumbai, India’s financial capital, features a complex real estate market influenced by factors like scarcity of land and high demand. Circle rates in Mumbai are among the highest in the country, especially in posh localities like Bandra, Juhu, and South Mumbai.

Localities	Flats/Apartments	Residential Land	Industrial Land
Colaba	Rs.280,400 – Rs.652,100	Rs.130,400 – Rs.339,000	Rs.280,400 – Rs.652,100
Marine Drive	Rs.164,800 – Rs.445,600	Rs.83,300 – Rs.221,800	Rs.164,800 – Rs.445,600
Malabar & Cumballa Hills	Rs.339,500 – Rs.861,000	Rs.185,700 – Rs.475,400	Rs.339,500 – Rs.861,000
Worli	Rs.172,500 – Rs.587,800	Rs.77,700 – Rs.318,200	Rs.172,500 – Rs.587,800
Dadar	Rs.71,300 – Rs.222,000	Rs.40,200 – Rs.102,300	Rs.99,800 – Rs.222,000
Bandra West	Rs.131,700 – Rs.449,600	Rs.74,500 – Rs.299,900	Rs.131,700 – Rs.449,600
Andheri East	Rs.114,000 – Rs.243,600	Rs.58,900 – Rs.142,200	Rs.114,000 – Rs.243,600
Juhu	Rs.230,700 – Rs.376,600	Rs.136,900 – Rs.227,400	Rs.230,700 – Rs.376,600
Andheri West	Rs.137,500 – Rs.210,100	Rs.70,600 – Rs.136,500	Rs.150,800 – Rs.210,100
Borivali East	Rs.52,800 – Rs.186,800	Rs.38,800 – Rs.112,100	Rs.114,100 – Rs.186,800

City 3: Bangalore

Bangalore’s emergence as a leading IT hub has propelled its real estate market. Circle rates in Bangalore witness fluctuations based on factors like proximity to tech parks, infrastructure development, and connectivity to city centers.

Check this table to understand locations in Bangalore and their circle rate trends.

Area/Locality	Applicable Circle Rate (In Rs. per sq. m)
Gokulam First and Second Stage	Rs. 25,000
B.M. Sri Nagar Cross Road	Rs. 28,000
Bogadi First & Second Stage	Rs. 28,000
Vani Vilas Market – D. Banumaiah Circle	Rs. 32,000
RMC Circle to Highway Circle	Rs. 32,600
Gokulam Main Road	Rs. 38,400
Ayurveda Hospital to RMC Circle	Rs. 49,100
Banumaiah Circle to KR Circle	Rs. 68,200
K.R. Circle to Ayurveda Hospital Circle	Rs. 1,15,000
Kumbarakoppal Main Road	Rs. 1,29,000

City 4: Kolkata

Kolkata’s real estate market is characterized by its blend of traditional and modern influences. Circle rates in Kolkata reflect the city’s rich heritage and evolving urban landscape, with prime areas like Park Street and Ballygunge commanding higher rates.

Check this table to understand locations in Kolkata and their circle rate trends.

Area	Average circle rate (per sq metre)
Agarpara	Rs 2,626
Action Area 1	Rs 4,882
Airport Area	Rs 3,062
Alipore	Rs 12,689
Baguiati	Rs 2,995
Baghajatin	Rs 3,858
Baguiati	Rs 3,257
Bally	Rs 2,769
Ballygunge	Rs 9,983
Behala	Rs 3,644

City 5: Chennai

Chennai’s circle rates are influenced by factors such as proximity to the coastline, industrial zones, and IT corridors. Areas like Nungambakkam and Adyar witness higher circle rates owing to their prime locations and amenities.

Check this table to understand locations in Chennai and their circle rate trends.

Street Name	Guideline Value (per sq ft)	Guideline Value (per sq m)
Thulukanathaman Nagar	Rs 1,474	Rs 15,875
Navganesh Nagar	Rs 1,474	Rs 15,875
Lakshmi Nagar	Rs 2,100	Rs 22,605
Sis Capetown	Rs 2,100	Rs 22,605
Raj Nagar	Rs 1,072	Rs 11,545
Jasmin Nagar Extn	Rs 1,475	Rs 15,875
Anna Street	Rs 804	Rs 8,660
Abirami Nagar	Rs 804	Rs 8,660
Brother Teresa Street	Rs 670	Rs 7,220
Ambattur Redhalls Road	Rs 1,474	Rs 15,875
Arul Nagar	Rs 1,005	Rs 10,825

City 6: Hyderabad

Hyderabad’s real estate market has witnessed rapid growth fueled by the IT sector and infrastructure development. Circle rates in Hyderabad vary across its burgeoning suburbs and prime commercial zones like HITEC City and Gachibowli.

Check this table to understand locations in Hyderabad and their trends.

Locality	Property Type	Average circle rate (per sq yd)
Banjara Hills Rd No 1 – Chts Basti Mkt – 2	Commercial	Rs 64.400
Jubilee Hills – 1	Residential	Rs 48,700
Begumpet – 1	Residential	Rs 3,062
Hill Fort Lane – 1	Residential	Rs 60,300
Amberpet – 1	Residential	Rs 32,200
Panjagutta – 1	Residential	Rs 60,300
Sai Nagar	Residential	Rs 27,600
Abids – 1	Residential	Rs 60,300
Ameerpet – 1	Residential	Rs 47,300
Somajiguda – 1	Residential	Rs 48,700

City 7: Pune

Pune’s circle rates reflect its status as a thriving educational and industrial hub. Factors like proximity to IT parks, educational institutions, and commercial centers influence circle rates in Pune, with areas like Koregaon Park and Kalyani Nagar commanding higher rates.

Check this table to understand locations in Pune and their trends.

Place	Flats/Apartments (Rs per sq ft)	Residential Lands (Rs per sq ft)
Ambegaon Khurd	Rs 47,720 – Rs 49,890	Rs 19,540 – Rs 19,540
Ambegaon Budruk	Rs 53,000 – Rs 62,540	Rs 16,120 – Rs 23,630
Anudh	Rs 54,450 – Rs 1,03,740	Rs 15,980 – Rs 91,960
Akrudi	Rs 42,230 – Rs 57,480	Rs 6,280 – Rs 32,000
Balewadi	Rs 47,100 – Rs 73,010	Rs 17,830 – Rs 29,480
Baner	Rs 42,760 – Rs 83,830	Rs 19,690 – Rs 31,800
Bhavani Peth	Rs 45,550 – Rs 81,150	Rs 14,480 – Rs 59,210
Bhosari Vibhag	Rs 40,770 – Rs 52,090	Rs 10,080 – Rs 20,970
Bibvewadi	Rs 45,290 – Rs 95,160	Rs 8,340 – Rs 35,300
Bopkhel	Rs 36,300 – Rs 38,470	Rs 2,640 – Rs 4,300

City 8: Ahmedabad

Ahmedabad’s real estate market is shaped by factors like industrial development, infrastructure projects, and urbanization. Circle rates in Ahmedabad vary across its commercial and residential hubs, with areas like Vastrapur and Satellite witnessing higher rates.

Check this table to understand locations in Ahmedabad and their circle rate trends.

Area (for flats)	Price (per sq ft) of apartment
Ambawadi	Rs 25,000
Bokadev	Rs 14,500
Asarwa	Rs 17,000
Bavla	Rs 12,600

City 9: Jaipur

Jaipur’s rich cultural heritage and growing tourism industry contribute to its real estate dynamics. Circle rates in Jaipur vary based on factors like proximity to heritage sites, infrastructure development, and demand from tourists and investors.

Check this table to understand locations in Jaipur and their trends

Colony	Exterior (per sq meter)	Interior (per sq meter)
Kho Nagorian Unconverted	Rs 3,600	Rs 2,600
Jagat Pura Samrat Colony	Rs 2,280	Rs 1,600
Malviya Nagar Kachchi Basti Riico Area	Rs 5,020	Rs 3,770
Guru Colony, Others	Rs 5,440	Rs 4,090
Kho Nagorian Unconverted	Rs 6,130	Rs 4,090
Ashok Vatika	Rs 6,130	Rs 5,160
Raghunathpri, Maruti Nagar	Rs 6,130	Rs 5,000
Brij Puri Near Purusharth Nagar	Rs 6,130	Rs 5,950
Manoharpura Kb	Rs 6,130	Rs 5,440
Goner Road, Vidhya Vihar, Jagatpura	Rs 6,800	Rs 5,670

City 10: Chandigarh

Chandigarh’s planned urban layout and strategic location contribute to its real estate attractiveness. Circle rates in Chandigarh reflect factors like proximity to commercial centers, connectivity, and planned infrastructure, with sectors like 8, 9, and 10 commanding higher rate.

Check this table to understand locations in Chandigarh and their circle rate trends.

Locality in Chandigarh	Rates
Residential urban area	Sector 1 to 12: Rs 78,250 per sq yd Sector 14 to 37: Rs 74,338 per sq yd Sector 38 and rest: Rs 70,424 per sq yd
Housing Board apartments	Independent: Rs 70,424 per sq yd Ground floor: Rs 4,500 per sq ft First floor: Rs 4,050 per sq ft
Industrial premises	Second floor: Rs 3,645 per sq ft
Apartments in cooperative housing societies	Third floor: Rs 3,280 onward per sq ft
Uppals Marble Arch flats in Manimajra	Rs 6,000 per sq ft
Shivalik Enclave	Rs 58,687 per sq yd
Milk Colony, Dhanas	Rs 48,906 per sq yd
Sites at IT Park	Vacant land: Rs 1,42,500 per sq yd Ground floor: Rs 14,034 per sq ft First floor: Rs 12,474 per sq ft Second floor: Rs 11,695 per sq ft

What are the factors Influencing Circle Rates?

This table will help you determine the factors .

Factors	Description
Location	Prime areas with good facilities have higher circle rates.
Infrastructure	Well-developed infrastructure raises property values and circle rates.
Demand and Supply	High demand and limited supply lead to higher rates; oversupply lowers rates.
Economic Factors	Economic conditions like inflation and growth impact rates.
Government Policies	Regulations and tax policies directly affect property values and circle rates.
Market Trends	Fluctuations in sales, rentals, and investor sentiment prompt adjustments in circle rates.

Conclusion

Understanding circle rates in India’s top cities provides valuable insights for stakeholders in the real estate sector. These rates not only influence property transactions but also serve as indicators of market dynamics, infrastructure development, and economic growth. If you’re interested in buying real estate and need help deciding where to invest and how to proceed with different financing options, seeking professional guidance is advisable. You may consider opting for personalized guidance from Credit Dharma.

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