Dwarka is one of the most popular residential areas in Delhi. This sub-city has a full-fledged ecosystem to offer a premium lifestyle and affords access to large green spaces. For those planning to invest in Dwarka, being aware of circle rates is highly crucial.
See also: Delhi circle rate in 2023
What is the circle rate? What is its use?
The circle rate is the state-government fixed basic value of land or property for registration of immobile assets in official records. State governments use this benchmark to levy taxes on the exchange of land and property and generate revenues. At the time of property registration, the buyer has to pay stamp duty and registration fee to the state government, which is a certain percentage of the property value. The property value, however, is determined based on the prevalent circle rates.
Dwarka circle rate for flats in 2023
| Area | DDA society flats (per sq. metre) | Private builder flats (per sq. metre) |
| 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 |
Dwarka circle rate for multi-storey apartment
| Area | DDA society flats (per sq. metre) | Private builder flats (per sq. metre) |
| Rs 87,840 | Rs 1.1 lakh |
Dwarka circle rate for residential and commercial plots in 2023
Land cost (per sqm): Rs 1.28 lakh
Construction cost: Residential (per sqm): Rs 11,160
Construction cost: Commercial (per sqm): Rs 12,840
Dwarka circle rate for agricultural land 2023
Green belt villages: Rs 3 crore per acre
Urbanised villages: Rs 4 crore per acre
Rural villages: Rs 3 crore per acre
Dwarka circle rate of land in colonies in 2023
| Land cost per sqm | Construction cost |
| Rs 1.28 lakh | Rs 11,160 |
Circle rate calculation for property purchase in Dwarka
Suppose you are buying a flat from a private builder in Dwarka with an area of 30 square metres. Based on the prevalent circle rates in 2023, the circle rate value of the flat will be:
100 sqm x Rs 1.1 lakh = Rs 1 crore
In this case, the circle rate value of the flat is Rs 1 crore and the property will be registered using this basic minimum value.
Since buyers in Delhi have to pay 6% stamp duty, you will pay Rs 6 lakh as stamp duty. Buyers must make provisions for a 1% registration fee apart from the stamp duty. This adds up to another 1 lakh. In total, the buyer will pay Rs 1 crore 7 lakh to buy and register the flat in Dwarka.
Why investing in Dwarka makes perfect sense?
Dwarka scores high on all liveability parameters. The area has a large number of educational institutes, shopping centres, healthcare facilities and local bazaars. Close to the Indira Gandhi International Airport and the commercial hub of Gurgaon, Dwarka has an edge over other residential markets in the national capital. Along with its green spaces and cleaner atmosphere, the sub-city enjoys robust metro connectivity via the Delhi Metro Blue Line and the Airport Metro Line.
FAQs
Where exactly is Dwarka in Delhi?
Dwarka is a sub-city in the southwestern part of the national capital.
Which metro line goes to Dwarka?
Dwarka has access to the Delhi Metro Blue Line and the Delhi Metro Airport Line.
In how many categories are areas in Delhi divided for circle rate determination?
Areas in Delhi are divided into eight categories for circle rate determination.
In which category does Dwarka fall?
Dwarka is under category D.
What is the circle rate for Category D?
In the case of land, the per sqm cost is Rs 1.28 lakh.
Who decides the circle rates in Delhi?
The Delhi government decides the circle rates in Delhi.
Can circle rates be higher or lower than the market rate of property?
Yes, circle rates can be higher or lower than market rates. While the fluctuations in market rates are more prominent, the same cannot be said about circle rates. States carefully watch the market trends and decide on circle rates. The market rates reflect the immediate worth of the said property among buyers and sellers in an area.
| 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 |
