Connaught Place, located in New Delhi, is a coveted business and real estate destination. The locality provides ample avenues for investors looking for commercial space. The area has excellent connectivity and a thriving retail hub, which makes the region a favoured choice for homebuyers. When looking to purchase any property, a buyer should be aware of the circle rates, periodically revised by the state government.
See also: Delhi circle rate in 2023
What are circle rates?
Circle rate is the lowest or minimum value below which property registration, during its sale or transfer, cannot take place. The circle rates are decided by the state government. A property buyer must pay the stamp duty and registration charges on the basis of the circle rates or the actual cost of the property, whichever is higher.
Circle rates in Connaught Place
The Delhi government has fixed the circle rates for different localities. Delhi is divided into eight categories – A to H. Properties in posh neighbourhoods of the city are higher compared to those in other areas. The circle rates are determined based on different factors, such as market rate of the location, amenities, property type, etc. One can calculate the circle rates in Connaught Place through the Delhi government’s online registration information system https://eval.delhigovt.nic.in/. Connaught Place falls in the New Delhi area.
Agricultural land circle rates in Delhi 2023
| District | Urbanised villages (in Rs Crore per acre) | Rural villages (in Rs Crore per acre) | Green belt villages (in Rs Crore per acre) |
| New Delhi | 5 | 5 | 5 |
Delhi circle rate for residential and commercial plots in 2023
| Category | Land cost (per sqm) | Construction cost residential (per sqm) | Construction cost commercial (per sqm) |
| A | Rs 7.74 Lakh | Rs 21,960 | Rs 25,200 |
| B | Rs 2.46 Lakh | Rs 17,400 | Rs 19,920 |
| C | Rs 1.6 Lakh | Rs 13,920 | Rs 15,960 |
| D | Rs 1.28 Lakh | Rs 11,160 | Rs 12,840 |
| E | Rs 70,080 | Rs 9,360 | Rs 10,800 |
| F | Rs 56,640 | Rs 8,220 | Rs 9,480 |
| G | Rs 46,200 | Rs 6,960 | Rs 8,040 |
| H | Rs 23,280 | Rs 3,480 | Rs 3,960 |
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 square metre | 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 |
| More than 100 sqm | Rs 76,200 | Rs 95,250 | 1.25 |
| Multi-storey apartment | Rs 87,840 | Rs 1.1 Lakh | 1.25 |
Circle rates in Connaught Place: Infrastructure and connectivity
Connaught Place is well-connected to other parts of the city through arterial roads, such as KG Marg, Sansad Marg, Minto Road, and Panchkuian Marg. The area has several public transportation options, such as taxis, autos, and buses. It also enjoys good metro connectivity through Delhi Metro’s Yellow Line. Moreover, the Indira Gandhi International Airport is 13 km, while the Old Delhi Railway Station is 10 km from the area, which increases the location advantages of this area.
Circle rates in Connaught Place: Commercial and residential real estate trends
If you are considering investing in a property in Connaught Place, it is essential to be aware of the prevailing market rates in the area. Connaught Place is a popular neighbourhood and a Central Business District in Delhi. The area is known for the presence of several shopping malls, restaurants, and schools, which enhances the liveability of the region. There are several residential properties coming up in the vicinity.
Connaught Place is known as the major financial, commercial, and industrial hub. The area has numerous commercial complexes with the presence of several firms and business parks. It is one of the most expensive real estate destinations with office spaces available at high rentals.
Circle rates in Connaught Place: Residential price trends
Connaught Place has several properties available for buying and renting. The average price of residential properties is Rs 62,361 per sqft.
Reasons to invest in Connaught Place
Connaught Place is located in the heart of Delhi and a sought-after investment destination. With several location advantages and the presence of numerous corporate offices, multinational companies, retail outlets and restaurants, Connaught Place is a preferred choice for investors looking for commercial space.
The locality draws numerous businesses, MNCs and startups, which have resulted in high demand for rental properties in Connaught Place. Further, the area has seen significant capital appreciation over the years, which makes it an excellent investment option for long-term gains.
FAQs
How to check the circle rate in Delhi?
Circle rates in Delhi can be checked by visiting the Delhi government’s online registration information system https://eval.delhigovt.nic.in/.
How is property value calculated in Delhi?
Property value is calculated by multiplying the area (in square metre) with the circle rate for the locality (in Rs per square metre).
Is Connaught Place expensive?
Connaught Place ranks among the most expensive office space destinations in the world.
What is the difference between Rajiv Chowk and Connaught Place?
Connaught Place is officially known as Rajiv Chowk.
Is Connaught Place good to live?
Connaught Place has several upcoming residential projects and has numerous social infrastructural facilities, which makes it an ideal residential destination.
Which metro goes to Connaught Place?
Connaught Place is connected through the Delhi Metro’s Yellow Line.
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