How to Calculate Property Circle Rates in Varanasi & Category Wise Rates List

Homebuyers of Varanasi have to pay stamp duty and registration charges to register the property to their name legally. Stamp duty is calculated on the basis of circle rate, which the Uttar Pradesh Government fixes and revises from time to time. These rates may vary across different localities within the same city.

Want to know about the circle rate in Varanasi? Read along!

Circle rate is a benchmark at which real estate asset sale or transfer has to be registered before being sold or transferred.

The circle rate in Varanasi acts as an indicator of property prices in a particular area of the city.

Knowing the circle rate is essential for every home buyer. Since there is no index to the governor to monitor property prices, the Government utilises these rates to keep a check on speculations in property prices.

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To calculate property or land circle rate in Varanasi, individuals have to follow the steps mentioned below,

• Step 1 - Determine the usage of the property (i.e. residential or commercial).
• Step 2 - Find out property’s age, amenities offered.  
• Step 3 - Next, identify property type (independent house, plot of land, apartment or flat).
• Step 4 - After collecting all information, use the following formula,

Property Value = Built-up area of the property (in sq. m.) x Circle rate of the locality (in Rs. per sq. m.)

• Step 5 - You will get the applicable circle rate in Varanasi.

Apart from calculating the circle rate in Varanasi manually, you can use an online calculator. Wondering how to use a circle rate calculator in Varanasi? Read along!

Read the following section to learn about the process of using a circle rate calculator in Varanasi.

Firstly, visit an online portal to calculate circle rates in your respective city. Next, proceed with the following steps -

• Step 1 - Select ‘State’.
• Step 2 - Select ‘District’.
• Step 3 - Enter ‘Street name/area’ and click on ‘Search’.
• Step 4 - The calculator will display the results within seconds.

Individuals who have followed the calculation method for various areas in Varanasi may have found different circle rates. Here, they need not worry about certain factors that affect these rates across Varanasi. Let’s dig out these factors.

Here is a list of 5 factors that affect circle rate in Varanasi.

• Location of the property
• Age of the property
• Type of occupancy (commercial or residential)
• Facilities/amenities offered with the property
• Type of the property (flat, independent house, agricultural land, etc.)

As property buyers, individuals must know that they can claim tax benefits on the stamp duty and registration charges paid. Here, a question might arise regarding the tax implication of circle rate, which is the determining factor of Stamp duty. Let’s see!

According to Section 56 (2) (x) of the Income Tax Act, if a property is sold/purchased below the benchmark circle rate, that rate will be considered the actual selling price. For this, sellers/buyers have to pay capital gains tax on the circle rate of the property.

Read the list of circle rates in Varanasi mentioned above carefully and keep these rates in mind before purchasing or selling a property within the city.