Haryana circle rate: Everything you need to know

[ecis2016.org] This article will throw light on what circle rates are and what is the current circle rate in haryana.

Those buying a property in this northern state have to be aware of the circle rate in Haryana. This article will throw light on what circle rates are and what is the current circle rate in Haryana. 

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What is the circle rate? 

In case of a commercial or residential property, the circle rate is the lowest rate, or minimum rate, at which the selling or transferring of the property can be recorded before getting sold or transferred.

When the state government sets the circle rate, a review is usually conducted to verify that it is consistent with current market conditions. A property’s stamp duty and registration fees are computed based on the circular rate or real market worth. The stamp duty charged on such properties generates a significant amount of cash for the government.

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How does circle rate work? 

• If a person intends to legally purchase and own property, they must first visit the sub-office registrar. 
• Following the submission of the application, they will be able to legally possess the property and have it registered in their name. 
• To get ownership of this registration, the administration will impose the prospective owner’s stamp duty and a registration price. Combined, these 2 fees serve as two of the state’s most important sources of income. 

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These stamp duties and registration fees vary from state to state and are calculated as a percentage of the circle rate in each state’s constitution.

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Multiple circle rates within the same city

When it comes to circle rates, don’t be astonished if you learn these rates vary within the city’s various parts. Some parts of cities are well-served by public transportation, feature top-notch educational institutions, and bustling commercial districts. On the other end, certain areas far from the city centre lack infrastructure and development. As a result, land prices in developed areas of Haryana cities are higher than in less established areas. Also, depending on the kind of project or building, various collection rates may apply.

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List of circle rates in Haryana

Gurugram circle rate 

Different tensils in Gurgaon have different circle rates. The circle rate in Farrukh Nagar Tehsil for example begins at Rs 3,000 per square yard and rises to Rs 7,500. In Pataudi tehsil, the rate begins at Rs 3,500 and goes up to Rs 14,000. The circle rate for Sohna tehsil is between Rs 2,700 and Rs 5,900.

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Faridabad circle rate

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Faridabad has a multitude of tehsils and villages. Sub-tehsil of Tigaon’s circle rate, for example, ranges from Rs 13,400 to Rs 15,750 per square yard. Dungarpur, Phulera, Sid Hola, Fatepura, and Kanwara share the same circle rate. 

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Hisar circle rate 

The circle rate in Hisar varies widely. Circle rate fees begin at Rs 15,000 per square yard and increase up to Rs 45,000. The price per square yard in Adampur ranges from Rs. 750 to Rs 3,500. In Balamand, a residential circle rate of Rs 1,400 per square yard is in effect. A rate of Rs 4,000 per square yard will apply to commercial properties.

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