Mukherjee Nagar, situated in North Delhi, stands as a prominent hub with a perfect blend of commercial and residential spaces. Renowned for hosting numerous educational institutes and serving as a hotspot for UPSC aspirants, Mukherjee Nagar is sought after by property investors and home seekers alike. This article provides valuable insights into the circle rates in Mukherjee Nagar.
See also: What is the circle rate in Shanti Niketan Delhi?
What are circle rates?
In Delhi, circle rates, also known as ready-reckoner rates, play a crucial role in property transactions. Set by the Delhi Development Authority (DDA), these rates determine the minimum value at which a property can be officially registered in a specific area. Circle rates are instrumental in calculating the stamp duty, property registration charges and other taxes associated with real estate transactions.
How to check circle rates in Delhi?
- Visit the official website of the revenue department of the Delhi governmentat https://revenue.delhi.gov.in/.
- On the home page, click on the Notice Board optionfor essential notifications and updates related to property and revenue matters.
- Within this section, click on Previous Notificationsfor information on circle rates.
- Select the year 2014, which is the last time Delhi circle rates were revised.
- Find the revised circle rate file for downloadand access the comprehensive list of revised circle rates for various localities across Delhi.
See also: Delhi circle rate in 2023
Circle rates in Mukherjee Nagar, Delhi
To maintain uniformity, the Delhi government has categorised properties into eight groups – A to H. Category A comprises the most affluent districts, while Category H includes areas with low property values. Mukherjee Nagar is classified under Category D with a circle rate of Rs 2.46 lakh per square metre.
| Circle rate (per square metre) | Residential construction cost (per square metre) | Commercial construction cost (per square metre) |
| Rs 1.28 lakh | Rs 11,160 | Rs 12,840 |
Real estate trends in Mukherjee Nagar, Delhi
Mukherjee Nagar, Delhi: Connectivity
Mukherjee Nagar enjoys strong connectivity to various parts of the city, facilitated by key routes, such as the National Highway 44, Signature Bridge and Outer Ring Road. Positioned close to Model Town, Wazirabad and Azadpur, the GTB Nagar Metro Station on the yellow line is conveniently located just 2 km away via Banda Bahadur Marg. The New Delhi Railway Station is approximately 11 km away, accessible through Vishwavidyalaya Marg. Residents can reach the Indira Gandhi International Airport, situated 29 km away, via Mahatma Gandhi Marg.
Mukherjee Nagar, Delhi: Infrastructure
Mukherjee Nagar has a robust infrastructure. Renowned as a coaching hub, the area hosts reputable educational institutions, including Masoom Special School, Sant Nirankari Public School and Sarvodaya Vidyalaya. Notable dining options, such as Hotel Red Chilly, Vinaju Hotel and Hotel Seven Seas, add to the local charm. Mukherjee Nagar boasts well-equipped medical facilities, including CGHS Hospital, Durga Hospital, Balak Ram Hospital and Nulife Multi Speciality Hospital. For shopping enthusiasts, DDA Shopping Complex, Spark Mall and Croma are popular destinations. The locality features major bank branches, including ICICI, SBI and HDFC.
Mukherjee Nagar, Delhi: Residential properties
Mukherjee Nagar, Delhi, offers diverse residential properties, including houses and independent homes developed by reputable builders. The area features residential apartments and independent builder floors. Given its proximity to educational institutes, Mukherjee Nagar is conducive to finding rented and paying guest accommodations. Notable residential projects in the locality include Sai Kripa, Signature View Apartment and various Resident Welfare Associations (RWAs), such as Jan Kalyan RWA and Sarvdharm RWA, providing ample housing options.
Mukherjee Nagar, Delhi: Commercial properties
Mukherjee Nagar is a bustling commercial hub, offering a plethora of shopping complexes, shops, markets, malls and banking facilities. The renowned Wazirpur Industrial Estate, home to prominent entities, such as Punjab Stainless Steel Industries, Picador Industries, Naulakha Industries, Sinhal Metal Industries and Bansal Steel Industries, is conveniently located just 7 km away via National Highway 44. The Naraina Industrial Area can be accessed at 19 km through Mahatma Gandhi Marg/Ring Road, featuring commercial units like Supermac Industries, Delcon Industries, MS Chhabra & Company, Marshal Industries and Golden Engineering Industries.
Why invest in Mukherjee Nagar, Delhi?
Investing in Mukherjee Nagar, Delhi, holds significant appeal due to its status as one of the top-rated localities. The area is renowned for excellent connectivity, being served by Delhi Metro’s yellow and pink lines, facilitating easy access to various parts of the city. Mukherjee Nagar’s proximity to educational hubs, with numerous tuition and coaching centres, adds to its attractiveness. The well-developed infrastructure and abundant social amenities make it an ideal choice for homebuyers and investors in Delhi.
FAQs
How is property value determined based on the circle rate?
Property value is calculated by multiplying the circle rate by the property’s built-up area in square metres.
What happens if the market value is lower than the circle rate?
If the market value is lower than the circle rate, the property must be registered based on the higher value, which is the circle rate.
What is the stamp duty value?
Stamp duty is calculated by taking into account various factors, including market value, transaction value or circle rates set by the local government.
What factors influence the circle rate of an area?
Circle rates depend on various factors, including location, infrastructure and amenities.
What is the circle rate for flats in Delhi?
The circle rate for flats in Delhi ranges between Rs 23,280 to Rs 7.74 lakh.
Which area in Delhi is considered the most expensive?
In terms of property prices, some of the most expensive areas in Delhi include Lodi Road Industrial Area, Nehru Place, Maharani Bagh, New Friends Colony, Vasant Vihar and Shanti Niketan.
Is it mandatory to pay house tax in Delhi?
Yes, all property owners in Delhi must pay property tax.
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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