Circle rate in Delhi’s Vasant Kunj

Vasant Kunj is a posh residential area in the national capital, well-known for its fancy bungalows and government-developed housing societies. Located in the south-western part of the city, the salubrious area is not only home to affluent families settled in India’s political center, but also the head office for several mega businesses operating in the country.

So, the property rate in this locality is among some of the highest in the city. Based on the listings on Housing.com, the average rate of property in Vasant Kunj in 2023 was Rs 15,480 per square foot (psf) with prices ranging between Rs 4,500 and Rs 25,333 psf.

However, those interested in buying properties in this locality must know the circle rate to evaluate the correct value of the property. Though market rates of properties in Vasant Kunj might be higher than the circle rate, you will be in a better position to negotiate with the seller if you know the current circle rate.

See also: Delhi circle rates

 

What is the circle rate? How is it different from the market rate?

The circle rate is the minimum value states assign to land and other properties. This is done to levy state taxes on transactions of immovable properties. Stamp duty and registration fees are two of the main state taxes levied on property transactions in the country.

Unlike circle rate where authorities decide the minimum rate of property, the market rate is the actual price at which a property is bought and sold in an area at a specific time. Often, market rates are higher than the circle rates of the property as governments keep changing the circle rate periodically. Changes in the value of an area are reflected more imminently in market rates of properties. This can be better understood with an example.

If the government announces a new airport in a city, the localities close to the airport would see their value rising immediately in the market. Until the state government takes a decision on hiking rates, the circle rate will remain the same.

Read also: What is circle rate?

 

Vasant Kunj circle rate for flats in 2024

Area	DDA, society flats (per sq meter)	Private builder flats (per sq meter)
Up to 30 sqm	Rs 50,400	Rs 55,400
30-50 sqm	Rs 54,480	Rs 62,652
50-100 sqm	Rs 66,240	Rs 79,488
Over 100 sqm	Rs 76,200	Rs 95,250

 

Vasant Kunj circle rate for multistorey apartment 

DDA, society flats (per sq meter)	Private builder flats (per sq meter)
Rs 87,840	Rs 1.1 Lakh

 

Vasant Kunj circle rate for residential and commercial plots in 2023

Land cost (per sqm): Rs 1.6 Lakh

Construction cost: Residential (per sqm): Rs 13,920

Construction cost: Commercial (per sqm): Rs 15,960

 

Vasant Kunj circle rate for agricultural land 2023

Green belt villages: Rs 5 Crore per acre

Urbanized villages: Rs 5 Crore per acre

Rural villages: Rs 5 Crore per acre

 

Vasant Kunj circle rate of land in colonies in 2024 

Land cost per sqm	Construction cost
Rs 1.60 Lakh	Rs 13,990

 

How to check circle rate in Vasant Kunj?

Step 1: To find circle rates in Vasant Kunj, visit the official website of revenue department of the Delhi government (https://revenue.delhi.gov.in/) .

 

 

Step 2: On the home page, click on Notice Borad.

 

 

Step 3: Under the Notice Borad, click on Previous Notifications.

 

 

Step 4: Now select the year 2014, the last time circle rates in Delhi were revised.

 

 

 

Step 5: You will find the revised circle rate file, which you can download. In the list you will be able to check the revised circle rate list for Vasant Kunj, Delhi.

 

 

 

Should you buy properties in Vasant Kunj?

A posh residential locality flaunting an ultra-premium business and shopping setups, Vasant Kunj is a highly desirable destination among people aspiring to have a house in Delhi. Because of the social value attached to the location, owning a property here earns you respect, sending a message that you have arrived in life.

Close to the Indira Gandhi International Airport and Millenium City Gurgaon, Vasant Kunj is a part of well-developed road network, enjoying connectivity with the Vasant Kunj Marg, the MG Road, the Nelson Mandela Marg, the Aruna Asaf Ali Marg, and the NH-48. The area, a major fashion and retail hub, offers a blend of malls and markets. It also enjoys metro connectivity through the Delhi Metro’s Magenta and Yellow Lines.

 

 

Stamp duty on property purchase in Vasant Kunj

Buyer type	Stamp duty
Male	6%
Female	5%
Joint	5%

Source: revenue.delhi.gov.in

 

Registration fee on property purchase in Vasant Kunj

Gender	Registration charges (as percentage of the property value)
Male	1%
Female	1%
Joint	1%

Source: revenue.delhi.gov.in

 

FAQs

Where is Vasant Kunj in Delhi?

Vasant Kunj is in south Delhi.

Which metro line goes to Vasant Kunj?

Delhi Metro’s Yellow Line and Magenta Line provide connectivity to Vasant Kunj.

In how many categories are areas in Delhi divided for determining the circle rate?

Areas in Delhi are divided into eight categories for determining the circle rates.

In which category of area does Vasant Kunj fall?

Vasant Kunj falls under Category C in the list.

What is the circle rate for Category C areas in Delhi?

In the case of land, the per square meter cost is Rs 1.6 Lakh.

Who decides the circle rate in Delhi?

The Delhi government decides the circle rates.

Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com