Vijay Nagar is a well-developed locality in north Delhi. The area is close to popular residential neighbourhoods, such as GTB Nagar and Model Town. Vijay Nagar and the surrounding region provide a good environment for the residents with access to social and public amenities. There are various residential properties available for resale in the area. If one is interested in purchasing a property, it is beneficial to check the circle rates in the location, which provides a fair idea to the buyer regarding the market trends. Circle rates in Delhi are decided by the Delhi government and are periodically revised by considering the market dynamics and several other factors.
See also: Circle rates in Malviya Nagar, Delhi
What are circle rates?
Circle rates in Delhi are the government-determined minimum property rates for a locality below which a property cannot be registered in the government records. These rates serve as the base price for property transactions in the area. Circle rates are calculated based on the following factors:
- Property location: Circle rates are higher in the posh localities of Delhi compared to other areas.
- Property usage: Residential property rates are lower compared to commercial properties.
- Amenities: The presence of facilities and infrastructure impacts property values.
- Property age: Property values depend on the age of a structure.
Delhi circle rate for flats in 2023
| Area | DDA, society flats (per sqm) | Private builder flats (per sqm) | Multiplying factors for private colonies |
| Up to 30 sqm | Rs 50,400 | Rs 55,400 | 1.1 |
| 30-50 sqm | Rs 54,480 | Rs 62,652 | 1.15 |
| 50-100 sqm | Rs 66,240 | Rs 79,488 | 1.2 |
| Over 100 sqm | Rs 76,200 | Rs 95,250 | 1.25 |
| Multistorey apartment | Rs 87,840 | Rs 1.1 lakh | 1.25 |
Circle rate for residential and commercial plots in 2023
| Category | Land cost (Rs per sqm) | Construction cost: Residential (Rs per sqm) | Construction cost: Commercial (Rs per sqm) |
| G | 46,200 | 6,960 | 8,040 |
In Delhi, localities are classified under eight categories – A to H. The most expensive localities are categorised under Category A, while the neighbourhoods with the lowest property values fall under Category H. Vijay Nagar falls under Category G.
How to check circle rates in Vijay Nagar?
- Visit the official website of the Delhi government’s online registration information system at https://eval.delhigovt.nic.in/.
- Click on the e-Valuation option on the menu bar.
- You will be directed to the e-circle rate calculator page for the required details.
- Click on Submit to view the details.
Circle rates in Vijay Nagar, Delhi: Commercial and residential real estate trends
Vijay Nagar is a residential locality in north Delhi with access to well-developed social infrastructure. Delhi University is easily accessible from the locality. Reputed schools, colleges and vocational training institutes attract homebuyers to this area. There are several shopping malls, healthcare centres and restaurants catering to the needs of the residents. The nearest metro stations to Vijay Nagar are GTB Nagar, Model Town and Vishwavidyalaya. Owing to these favourable factors, there is a demand for residential properties in Vijay Nagar. One can find 1, 2 and 3BHK in Vijay Nagar for buying and renting.
There are popular attractions in the neighbourhood, such as Buddha Garden, Gurudwara Nanak Piao Sahib, Red Fort and Max Mall. Employment hubs in the vicinity increase the commercial demand of the area.
Reasons to invest in Vijay Nagar, Delhi
- Vijay Nagar in Delhi has good connectivity, including metro stations in the vicinity
- There are good social infrastructural facilities for the residents
- The area offers a range of housing options, including new residential properties
- There are commercial spaces in the neighbourhood for investment
FAQs
How to calculate property value in Delhi?
The property value in Delhi is calculated using the formula: Property Value = Built-up area (sqm) X Circle rate of the locality.
How to check circle rates in my area in Delhi?
Visit the Delhi government’s online registration information system’s e-circle rate calculator to know the latest circle rates in Delhi.
How is property value calculated based on the circle rate?
Property value in Delhi is calculated using the formula: Build-up area of the property (sqm) X Circle rate for the area (Rs per sqm).
Who determines circle rates in Delhi?
The Delhi government is responsible for determining the circle rates for different localities.
What is the circle rate of Category G in Delhi?
The land cost in Category G in Delhi is Rs 46,200 per sqm.
How do circle rates differ from market rates?
While market rates are mostly determined by the seller, circle rates are fixed by the government. Moreover, circle rates are usually lower than the market rates.
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
