How to Calculate Property Circle Rates in Lucknow & Category Wise Rates List
Circle rate is an essential component of property valuation that helps decide the stamp duty and registration charges. These rates vary from one area to another and depend on the size and locality of a property.
If you are willing to purchase a property in Lucknow, it is imperative to know the current circle rates of the city. In this piece, we have discussed circle rate in Lucknow, its calculation process and many other things.
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What Are the Property Circle Rates in Lucknow?
Circle rate is the lowest price at which the transfer or sale of residential or commercial property can be registered before transferring or selling it. The property can be a buildup house, apartment or a plot of land.
As per these rates, transactions below the approved limit is not permissible. These rates impact flat or property costs along with the mortgage.
The State Government of Lucknow, i.e. The Uttar Pradesh Government or the local development authorities, set the Circle rate.
As the real estate market has no specific price index, the Circle rate in Lucknow can control the price of property prices.
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DM Circle Rate in Lucknow
[1]
| Area Between Roads | Circle Rate Per Sq. Meter (in ₹) |
|---|---|
| Faizabad Road | 30,000 |
| From Hazratganj Chauraha to Kalidas Marg Chauraha, Mahatma Gandhi Marg | 76,000 |
| From Subhash Marg Medical College to Charbagh Tiraha | 31,000 |
| From Kaiserbagh Chauraha to Charbagh | 55,000 |
| From Chinhat Village to Satrikh | 14,000 |
| From Charbagh Station to Awadh Hospital | 55,000 |
| Sultanpur Road, Shaheed Path | 25,000 |
| Hardoi Road | 20,000 |
| From Singar Nagar Chauraha to Hydel Chauraha | 55,000 |
| From Telibagh Nagar to PGI Nagar Nigam limit | 31,000 |
| From Guru Govind Singh Marg Hussainganj Chauraha to Naka Chauraha | 31,000 |
| Sitapur Road | 39,000 |
Circle Rates in Premium Areas in Lucknow
[2]
| Area | Circle Rate Per Sq. Meter (in ₹) |
|---|---|
| AP Sen Road | 26,000 |
| Butler Palace Colony, Butler Ganj, BBD Green City Shahpur | 18,000 |
| Cantt Road, Kasaibada, Pandariba | 18,000 |
| Eldeco Green, Vipul Khand | 39,500 |
| Gautam Palli, Gulistan Colony, Transport Nagar | 28,000 |
| DM circle rate in Gomti Nagar Lucknow (Gomti Nagar Phase 3, Gomti Nagar Extension, Gomti Greens) | 30,500 |
| Marutipuram | 19,500 |
| Miling Toniya Road, Vidhan Sabha Marg, Vivekanand Marg, Vikramaditya Marg | 27,500 |
| Park Road, Park Lane, Mahatma Gandhi Marg, Motilal Nehru Road | 27,500 |
| Sarojini Naidu Marg, Chitwapur Road, Canal Colony, Mangal Kheda | 15,500 |
| Sushant City, from Sector A to E | 18,500 |
| Vastu Khand, Vaibhav Enclave, Vikas Khand, Vikalp Khand, Vinagra Khand, Vinay Khand, Vinit Khand | 30,500 |
| Vibhuti Khand | 40,000 |
| Uday Ganj, Uday Ganj Road | 15,500 |
| Sushant City, From Sector F to I | 15,000 |
| Sharda Nagar, Sharda Nagar Yojana | 19,000 |
| Gurunanak Market, Vrindaban Yojan | 21, 000 |
| Gautam Budh Marg, Charbagh | 25,000 |
| Aabadi Kabristan Mall Avenue, Vindsor Palace | 16,500 |
| Havelock Road, La Martiniere Colony, Trilokinath, Manas Nagar | 20,000 |
| Raibareli Road Yojna, Aishbagh, Eldeco, Kanpur Road Pariyojana, Awadh Vihar Pariyojna | 19,000 |
| Vijay Khand, Vijay Khand, Vipin Khand, Vishal Khand | 33,500 |
| Vikrant Khand, Vishwas Khand, Vibhav, Vivek Khand, Vijyant Khand, Vishesh Khand, Virat Khand, Viraj, Viram Khand | 30,500 |
| Saket Palli, Pirpur Square, Bandriya Bagh, Banarasi Bagh | 22,500 |
| Darbari Lal Sharma | 21,500 |
| Faizabad Road | 36,000 |
| Ashiyana, Jiyamau, Srijan Vihar Colony | 22,000 |
| Omaxe City, Alambagh | 16,000 |
| Rana Pratap Marg | 29,000 |
How to Calculate Property Value Using Circle Rates in Lucknow?
Follow the steps mentioned below to calculate property value using circle rates.
- Step-1- Learn about the build-up area of the property.
- Step-2- Identify the age of the property, provided amenities and many other things.
- Step-3- Find out the type of property.
- Step-4- After gathering all the essential information, use the below-mentioned formula -
Property Value = Built-up area of the property (in sq. m.) x Circle rate of the locality (in ₹ per sq. m.)
You will get the results.
Alternatively, you can use a circle rate calculator in Lucknow to get accurate and fast results. The following section gives a step-by-step guide to using Circle Rate Calculator.
How to Use a Circle Rate Calculator in Lucknow?
Using a circle rate calculator for property valuation is simple. Individuals can complete the process by the steps mentioned below.
- Step-1- Enter property built up area.
- Step-2- Provide details of property age, facilities available, etc.
- Step-3- Enter information regarding property type.
- Step-4- Once you provide all data in the calculator will display the circle rate in Lucknow.
Till now, individuals have gained detailed knowledge about circle rate lists, property value calculation processes using circle rate. In the following section, let’s learn about deciding factors of circle rate in Lucknow.
What Are the Top 5 Factors Affecting Circle Rates in Lucknow?
Here is a list of 5 factors that affect circle rates in Lucknow.
- Type of property- independent house, flat,
- Type of occupancy- commercial or residential,
- Location of the property,
- Age of the property,
- Amenities provided with the property.
What Is the Impact of Circle Rates on Taxation in UP or Lucknow?
According to the 56 (2)(x) of the Income Tax Act, if an individual purchases a property below the approved price, the difference or gap in rate/ amount will be considered ‘other income’. Subsequently, they have to pay capital gains tax. Here, the seller will have to pay capital gains tax on the circle rate of the property.
However, in the meeting of Union Budget 2020, the Government decided to lower the burden on both buyers and sellers. As per the new decision, the Government did not impose additional tax liability in cases where there is a difference between circle rate and market value of below 10%.
With such a detailed discussion on circle rate in Lucknow, we have reached the end of the blog. Read the circle rates for various areas attentively while selling or transferring property in Lucknow.
FAQs About Property Circle Rates in Lucknow
What is the circle rate for flats/apartments in multi-storey buildings in Lucknow?
The Circle rate for flats/apartments in multi-storey buildings in Lucknow varies from ₹ 18,000 per sq. metre to ₹ 26,000 per sq metre.
Who declares the District Magistrate declares the circle rate in Lucknow?
How can an individual know the circle rate in Lucknow?
In order to know the circle rate in Lucknow one needs to find out the property’s built up area, age, amenities offered, and type of the property. After finding out the exact value of these determinants one can calculate the circle rate by using the given formula:
Property Value = Built-up area of the property (in sq. m.) x Circle rate of the locality (in Rs. per sq. m).
What is the tax implication for purchasing a property below circle rates?
In such a scenario, the government has the authority to collect an additional tax of 22% to 25% from the seller. It depends on the degree at which the actual sale price is higher in comparison to circle rate. However, in such circumstances buyers are not liable to pay any additional tax due to the deeming provision.
Why is the circle rate important?
For potential buyers and sellers of a property in Lucknow it is important to know about the circle rate because circle rate is a major norm to assess the property value in Lucknow. These rates are generally revised in the regular interval and vary depending on the area.