Lifestyle

Circle rates in Faridabad

[ecis2016.org] Mentioned below are the prevailing circle rates in some of the key areas of Faridabad

As is true of all real estate transactions, home buyers in Faridabad have to pay stamp duty and registration charges on the purchase of properties. These charges are calculated, based on the Faridabad circle rate (also known as ready reckoner rate, guidance value or collector rate in various areas), as determined by the Haryana government through the sub-registrar’s office.

Circle rate of flats in Faridabad in 2020

Type of construction Circle rate per sq ft
All group housing cooperative societies, Greater Faridabad Rs 3,100
Housing board Rs 3,400
Flats in licensed colonies, Faridabad Rs 4,000
Flats of licensed colony – Neharpar, Greater Faridabad within municipal limits Rs 3,400
Flats of licensed colony – Neharpar, Greater Faridabad outside municipal limits Rs 3,400

Source: Faridabad.nic.in

Floor-wise circle rates of property in Faridabad

Rates are per sq ft

Type of construction Ground floor First floor Second floor
Sector floor in HUDA Rs 4,300 Rs 4,000 Rs 4,000
Floor in licensed colonies in Faridabad other than in Neharpar area Rs 4,500 Rs 4,300 Rs 4,300
Floor in licensed colonies in Neharpar within municipal limits Rs 3,700 Rs 3,700 Rs 3,700
Floor in Old Faridabad Rs 3,500 Rs 3,000 Rs 2,900
Floor in licensed colonies in Neharpar outside municipal limits Rs 3,500 Rs 3,500 Rs 3,500

Source: Faridabad.nic.in

Circle rates in Faridabad for residential plots

HUDA Sector plots Rate per sq yard for plot of up to 500 sq yards (in Rs) Rate per sq yard for plot of more than 500 sq yards (in Rs)
Sector 14 40,000 37,000
Sector 16 38,000 35,000
Sector 17 36,000 32,000
Sector 18 27,000 24,000
Sector 18A 26,000 24,000
Sector 19 27,000 25,000
Sector 21A 30,000 27,000
Sector 21B 30,000 27,000
Sector 28 27,000 25,000
Sector 29 26,000 25,000
Sectors 30 and 31 27,000 24,000
Durga Builder Colony 20,000 20,000
Indraprastha Colony 25,000 25,000
Spring Field Colony 25,000 25,000
Ashoka Enclave 32,000 32,000
Neharpar sectors 79, 80, 81, 82, 83, 84, 85, 86, 89,90 30,000 30,000

Source: Faridabad.nic.in

To get the full list of the proposed circle rates in Faridabad, click here.

Stamp duty and registration charges in Faridabad

Ownership type Stamp duty Registration charges
Man 7% Up to Rs 15,000
Woman 5% Up to Rs 15,000
Joint 6% Up to Rs 15,000

[ecis2016.org] All about circle rates in Gurgaon

Calculation of stamp duty on flats in Faridabad based on circle rates

Stamp duty and registration

Since the area and the amenities are the single biggest factor, based on which the stamp duty is charged, you need to find out about the built-up area and the amenities in the house, to calculate stamp duty payment. Depending on the type of property – builder floor, apartment and house on plot – check the applicable circle rates in the area in which the property is located.

After that, you can calculate the minimum assessed value as per the current circle rate, using the following formula:

For apartments in a housing society

Carpet up area in sq ft x applicable circle rates

For builder floors

Built-up area in sq yard x applicable circle rates

For plots

Plot area in sq yard x applicable circle rate

For independent homes built on plots

Plot area in sq yard x applicable circle rate for land added to (+) built-up area in sq ft x minimum cost of construction

Check out price trends in Faridabad

Stamp duty calculation example

Assume that Rama Devi has bought a flat in a HUDA sector in Faridabad, where the applicable circle rate is currently Rs 3,100 per sq ft. Considering that the house has a carpet area of 1,000 sq ft and the prevalent circle rates, she would register the property for Rs 31 lakhs. Now, the government will charge 5% as stamp duty on this amount, as the property is being registered in a woman’s name.  This brings the stamp duty amount to Rs 1.55 lakhs. She will also have to pay an additional Rs 15,000 as registration charges.  Thus, the overall cost of the property would total up to Rs 32.70 lakhs.

FAQs

What is the stamp duty on property registration in Faridabad?

Stamp duty is 7% for men and 5% of the property value for women buyers.

What is the registration charge on property purchase in Faridabad?

Buyers have to pay up to Rs 15,000 as the registration charge.

What is the stamp duty rate for jointly owned properties in Faridabad?

The stamp duty for properties bought in joint names of a man and a woman in Faridabad is 6% of the property value.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Debora Berti

Università degli Studi di Firenze, IT

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