Circle rates - delhi
Shailender Bali
(Querist) 19 January 2012
This query is : Resolved
Respected Counsels,
Please clarify.
if there is a plot having 3 floors(G+2)each having area of 200 sq mtrs.
Situation - Sale of One floor. Cirle rate - Rs. 100000 per sq mtr.
What will be the minimum value for sale of one floor.
Will it be
a) (area of plot X circle rate)/3
or
b) area of floor X circle rate
looking forward for your guidance
Thanks and regards
Shailender Bali
girish shringi
(Expert) 20 January 2012
Circle rate (a) will be applied.
That too according to the space been sold on any floor i.e.ground is having more value than that of first and first is having more value than that of second likewise.
Further depreciation if any is to be calculated,according to the life of constructed property.
Property Valuers are misguiding the citizens in this and penetrating the situation.
So be careful.
M/s. Y-not legal services
(Expert) 20 January 2012
circle rate? its new thing to me..
i thing no such formalities in tamilnadu..
-tom-
R.Ramachandran
(Expert) 20 January 2012
Dear Mr. Tom,
Circle Rate means, government guidance value for the immovable property in a area. The value of the property transaction cannot be less than such govt. guidance value for the purposes of stamp duty.
Sailesh Kumar Shah
(Expert) 20 January 2012
Option B is right. and also refer to DM circle rate list. various other valuations shall have to added such as construction cost etc.
M/s. Y-not legal services
(Expert) 21 January 2012
ya.. i guessed that only sir..
that is "guide line value" in tamilnadu sir.. thank you ramachandran sir..
-tom-
V R SHROFF
(Expert) 21 January 2012
Tom-
We in Mumbai call it Market Value [by govt]
It is different for different Survey No, Street, Shops, Flats, Front Road Shops, rare side shop, 1st Floor commercial offices etc.
It also reduces with life of building Say 10 -20 yrs old structure valued at 80% of Mkt value Say 30 -40 yrs old structure valued at 60% of Mkt value .
If Lift, 7 story & above 10% Extra.
M/s. Y-not legal services
(Expert) 21 January 2012
thank you shroff sir.. for sharing information..
here guide line value and market value..
guide line value mean fixed by govt..
market value mean fixed by concern place/land lord..
-tom-
Shailender Bali
(Querist) 22 January 2012
Thanks for your reply respected experts.
I did not mention in my query that the property is situated in Delhi. Hence I got for both the options i stated in query. In Delhi, there is no distinction in the floors located in the same area. There are categories of various areas. For example. Posh areas Such as Jorbagh, Golf Links, Vasant Vihar are in "A" category and so on till "H" category. Regards
