What are Circle Rates?
Circle Rates are the minimum rates set by the government at which properties can be registered in a particular area. It is a must
that real estate Investors need to be aware of the circle rates of the locations for doing business. They are also called Ready Reckoner Rates.
How are circle rates calculated for an area?
Hyderabad Real Estate buyers need to be aware of the circle rates concept. The circle rates are calculated based on the factors such as —
● Location of the property.
● The infrastructure of the locality.
● Market trends
● Demand for the area.
● Amenities of the property.
How to calculate the circle rates of a property?
To calculate the circle rates for a specific property in Secunderabad, you need to know the area’s current circle rate and the built-up area of the property. You need to multiply the built-up area of the property with the current circle rate of the area to know the cost of the property. Circle rates are applicable for residential and commercial properties too.
Table for Circle Rates in Secunderabad 2023
|Serial number||Type of property||Circle rate (Minimum range)||Circle rate (Lower range)||Circle rate (Mid range)||Circle rate (High range|
|1||Agriculture land||Rs 3,00,000 per acre||Rs 10,00,000 per acre||Rs 15,00,000 per acre||Rs 1,40,00,000 per acre|
|2||Open plots||Rs 3,000 per sq yd||Rs 10,000 per sq yd||Rs 15,000 per sq yd||Rs 28,000 per sq yd|
|3||Flats||Rs 2,000 per sq ft||Rs 2,000 per sq ft||Rs 2040-4800 per sq ft||Above Rs 5,200 per sq ft|
Circle rates are vital for determining the real estate market growth. If the circle rates are high, real estate buyers might find it expensive to invest in properties. If circle rates are low, buyers get excited to invest, leading to a surge in the real estate market.
Presently, the circle rates in Secunderabad are moderate; hence the real estate market is growing steadily.