Circle Rate in Faridabad

If you plan to invest in real estate in Faridabad, you should know the circle rate. It is the minimum price for a property or land per square metre. It helps calculate the registration charges on property transactions and the stamp duty. 

Read on to know the Faridabad circle rate in different areas, how to calculate the value of the property using the circle rate and more.

Here is a complete sector-wise list of Faridabad property circle rates:

Here are the Noida circle rates for licensed colonies:

Here is a look into the different formulas for different categories of real estate:

• Plot

Property Price = Total Plot Area * Circle Rate (both in per sq. yard)

• Builder Floors

Property Price = Total Built-up Area * Circle Rate (both in per sq. yard)

• Housing Societies Apartments

Property Price = Total Carpet Area * Circle Rate (both in sq. ft.)

• Independent Housing on Plots

Property Price = Total Plot Area (sq. yard) * Circle Rate (sq. yard) + Property built-up area (in sq. ft) * construction cost

Follow these steps to calculate the property value using the circle rate in Faridabad.

• Step 1: Identify the following information about the property:

1. Property built-up area

2. Property type

3. Age of the property

4. Amenities offered on the property

• Step 2: Enter the details to derive the property’s value

Note: Use similar measurement units like yard, metre, etc., for all values to derive accurate results.

Here are some of the factors.

• Occupancy Pattern

The rates for residential and commercial properties differ in the market. The commercial property circle rates are comparatively higher than residential ones. 

• Locality

If the property is in a prime location, it will have a higher price. At the same time, an underdeveloped locality will have a lower circle rate. A property situated in a central location with access to all essential and non-essential items qualifies as a prime location.

• Facilities and Amenities

Facilities and amenities enhance the property’s value. Access to advanced and latest amenities leads to high circle rates and vice-versa. 

• Property Age

A new property generally has a higher value than a comparatively older or second-hand property. 

• Property Type

The type of property is another crucial factor that influences the circle rate. Apartments are comparatively cheaper than independent houses, bungalows, and other types of properties.

Circle rate helps you purchase a property at the correct price index. You should remember that it is generally lower than the market rate. If you plan to buy a property for residential purposes, it is better to go for home loans when the gap is small. 

This is because the lower the gap, the more seamless the home loan procedure becomes. You can also apply for a housing loan online on Bajaj Markets portal to enjoy facilities like flexible repayment tenure, minimal interest rates, etc.