Current Circle Rate in Kanpur

Circle Rate in Kanpur

Check current circle rates in Kanpur

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A circle rate is a minimum rate at which a property can be sold or transferred in a particular circle or area. This rate is the lowest price of the sale or transfer of a property that can be registered in the applicable circle. The circle rate for a particular property can be higher or lower than the prevailing market price at any point in time.

The state government uses the circle rate for a specific circle to determine the quantum of the Stamp Duty that is payable on the sale or transfer of a property. This rate also plays a key role in the determination of one's total income tax liability. If you plan to sell a property in Kanpur or apply for a home loan therein, you must be mindful of the Kanpur circle rates.

Current Circle Rates in Kanpur for 2022

The 2022 Kanpur circle rates for different areas of the city have been listed in the following table.

Name of different areas in Kanpur

Kanpur circle rates (per square metre)

GT Road

Rs. 55,000

P Road

Rs. 66,500

Nai Sadak

Rs. 42,300

Ashrafabad Road

Rs. 13,200

Sarsaul Village to Kanpur City

Rs. 6,600

Harbansh Mohal Road

Rs. 66,500

Mall Road

Rs. 66,500

Rooma Village to Sarsaul Village

Rs. 7,700

Meston Road

Rs. 66,500

VIP Road, Meghdoot Chauraha to Elgin Mill Chauraha

Rs. 33,800

It is important to note here that the above rates are subject to change. You must, therefore, check the latest Kanpur circle rates for a specific area to determine the permissible rate at which a property can be sold or transferred in that area.

Calculation of Property Value in Kanpur for Stamp Duty Payment (using the Kanpur circle rate)

One of the main applications of a circle rate is the computation of the value of a property and the Stamp Duty payable on the registration of its sale or transfer. Here is how you can calculate the value of a property in Kanpur on the basis of the applicable circle rate for the area where it is situated.

  1. Ascertain the total built-up area 0f the property in square metres since the circle rates are available in the form of per square metre.

  2. Determine the type of the property.

  3. List down the important details of the property, such as how old it is, the amenities available there, etc.

Once you have determined the above particulars about the property that you wish to sell or transfer, you can easily compute its value by using the following formula.

The value of a property = Total built-up area (square metres) x circle rate for the area (per square metre)

For instance, if the total built-up area of a property located in P Road in Kanpur is 500 square metres, then the value of the property shall be computed as follows:

The value of a property = 500 square metres x Rs. 66,500 per square metre = Rs. 3,32,50,000

Note* - The Kanpur circle rate for P Road is Rs. 66,500 per square metre (as mentioned in the table for circle rates).

The quantum of the Stamp Duty payable on a property is determined by multiplying the Stamp Duty rate applicable in the state with the total sale value of the property.

Factors Affecting the Circle Rates in Kanpur

There are several factors that have a bearing on the circle rates in Kanpur. Some of the main factors that affect the Kanpur circle rates have been discussed below.

  1. Where the property is located: The location of a property is one of the major determinants of its value. In a similar vein, said location is also a key factor in the determination of the circle rate for a specific area. For instance, the circle rate for one of the centrally located areas in Kanpur is likely to be higher than the corresponding rate for a rural area in the outskirts of the city.

  2. What the type of the property is: The type of property also has an impact on the circle rate for an area. In this context, properties are usually categorised as plots of land, independently built houses, and apartments.

  3. What the nature of the occupancy at the property is: Whether a specific property is being used for commercial purposes or residential purposes also helps shape the circle rates for a particular area.

  4. What amenities are present in the property: The amenities that are available at a property is also an important factor that is taken into account whilst deciding the circle rates for a particular area.

If you are planning to sell a property in Kanpur or apply for a home loan to purchase a property in the city, then you must get yourself acquainted with the circle rates in Kanpur. These rates are important for determining the value of a property as well as the Stamp Duty that is payable on it.