Circle Rate in Faridabad

Circle rates are referred to as the price determined by the market for a property or land per square meter. Circles rates are the base price which is defined on the locality of the land or property. If you are planning to invest in real estate in Faridabad, the first and foremost thing you should take into consideration is the circle rate in Faridabad. It helps you better understand the registration and stamp duty charges attached to the property as well. Read below to know more about the Faridabad circle rate.

Current Circle Rate in Faridabad Sector Wise

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

How to Calculate Property Value in Faridabad Using the Circle Rate for Stamp Duty Payment 

There are different categories of properties in real estate which require different cost estimation formula to derive accurate and reasonable values. The four prominent categories of real estate are -

• Plot - Property Price = Total Plot Area * Circle Rate

• Independent Housing on Plots - Property Price = Total Plot Area * Circle Rate * Property built-up area * construction cost

• Housing Societies Apartments -Property Price = Total Carpet Area * Circle Rate

• Builder Floors - Property Price = Total Built-up Area * Circle Rate

**Note - Use similar measurement units like yard, meter, etc for all values to derive accurate results.

To calculate the property value using circle rate in Faridabad, one must follow these two simple steps -

• The first step is to identify following things about the property -

• Property built-up area

• Property type

• Age of the property

• Amenities offered in the property

• After accumulating all this information, enter the following details into the formula to derive the property value in Faridabad.

Factors Affecting Circle Rates in Faridabad

Before making an investment in real estate in Faridabad, it is important to consider the factors that influence Faridabad property circle rate. These factors create a significant impact on the market price of the property.

• Occupancy Pattern - The rates for residential and commercial properties are different in the market. The commercial property circle rates in Faridabad are comparatively higher than residential ones.

• Locality - If the property is located in a prime location, the property price will be higher, whereas an underdeveloped locality will have a cheaper circle rate in Faridabad.

• Facilities and Amenities - Facilities and amenities add value to the price of the property. If a property is located at a central location with access to all essential and non-essential items, it is a prime location leading to high circle rates in Faridabad.

• Property Age - There is a reasonable difference in price when the age of the property is taken into consideration. A new property will have a higher value than an old -fashioned second-hand property.

• Property Type - The last and the most important factor is the type of property. Apartments are comparatively cheaper than independent houses, bungalows, etc.

Conclusion 

Circle rate helps the buyers to purchase a property at the correct price index. Buyers should be aware of the fact that the circle rate is generally lower than the market rate. In case you are planning to buy a property for residential purposes, ensure that the gap between the circle rate  and market rate is low. The lower the gap, the more seamless the home loan procedure becomes. Customers can also apply for a housing loan online through the Bajaj Markets portal to enjoy facilities like flexible repayment tenure, minimal interest rates, etc. If you have not applied for a housing loan yet, download the Bajaj Markets app or visit the official portal now!