South Delhi is known for its expensive neighbourhoods and well-planned areas. Malviya Nagar is one of the prime localities in the region. It is around 12 km from the Indira Gandhi International (IGI) Airport and has several shopping malls, multiplexes and other social amenities. All these factors make it an attractive residential destination for home buyers. Before investing in a property, it is important to check the circle rates. At the time of property registration, a buyer must pay the stamp duty and registration charges. The amount is based on the circle rates or the actual property value, whichever is higher.
See also: Circle rates in Connaught Place, Delhi
What are circle rates?
Circle rates are the minimum property value below which a property cannot be registered during its sale or transfer. Generally, the market rates of a property are higher than the circle rate. The Delhi government periodically revises the circle rates and takes into account different factors when calculating these rates.
- Location: Circle rates in posh neighbourhoods tend to be higher than in other localities.
- Property usage: Circle rates are lower for residential properties compared to commercial properties.
- Amenities: The property values may depend on the facilities in the locality, including transportation, infrastructureand shopping malls.
Circle rates for Malviya Nagar, 2023
| Area | Land cost per sqm | Construction cost |
| Malviya Nagar | Rs 1.60 lakh | Rs 13,920 |
Circle rates for agricultural land in Malviya Nagar, 2023
| Area | Green belt villages (in Rs crore per acre) | Urbanised villages (in Rs crore per acre) | Rural villages (in Rs crore per acre) |
| South Delhi | 5 | 5 | 5 |
Delhi circle rate for flats in 2023
| Area | DDA society flats (per sq. metre) | Private builder flats (per sq. metre) | Multiplying factors for private colonies |
| Up to 30 sq. m. | Rs 50,400 | Rs 55,400 | 1.1 |
| 30-50 sq. m. | Rs 54,480 | Rs 62,652 | 1.15 |
| 50-100 sq. m. | Rs 66,240 | Rs 79,488 | 1.2 |
| Over 100 sq. m. | Rs 76,200 | Rs 95,250 | 1.25 |
| Multi-storey apartment | Rs 87,840 | Rs 1.1 lakh | 1.25 |
Circle rate for residential and commercial plots in 2023
| Category | Land cost (per sqm) | Construction cost: Residential (per sqm) | Construction cost: Commercial (per sqm) |
| C | Rs 1.6 lakh | Rs 13,920 | Rs 15,960 |
Properties in Delhi are classified under eight categories – A to H. The most expensive localities are categorised under Category A, while the lowest-value neighbourhoods fall under Category H. Malviya Nagar falls under Category C.
How to check circle rates in Delhi?
One can visit the official portal of Delhi government’s online registration information system https://eval.delhigovt.nic.in/ to check the circle rates in Delhi.
- Visit the e-circle rate calculator page.
- Select the sub-registrar, locality, deed name and sub-deed name from the dropdown menu.
- Click on Submit to view the details.
Circle rates in Malviya Nagar: Commercial and residential real estate trends
One of the major location advantages of Malviya Nagar is its proximity to the IGI Airport. Moreover, the presence of Select City Walk Mall and other shopping destinations in the vicinity make it a coveted locality for homebuyers. The area has metro connectivity provided by the Malviya Nagar Metro Station on the Delhi Metro’s Yellow Line, which provides excellent connectivity to different parts of Delhi and Gurgaon. The area witnesses a steady demand for residential properties, averaging at Rs 21,178 per square foot (sq. ft.).
Malviya Nagar has major commercial shopping complexes and markets. There are several office spaces, shops and showrooms for investment. These include under-construction and ready-to-move properties in the price range of Rs 12 lakh to Rs 23 crore.
Reasons to invest in Malviya Nagar
- Malviya Nagar is a popular shopping destination with several malls in the vicinity
- The area is well-connected to other parts of the city via metro and other public transport facilities
- Malviya Nagar is around 12 km from the IGI Airport
- There are commercial complexes in the region, providing investment opportunities
FAQs
How to check circle rates in Delhi?
One can check circle rates from the official portal of Delhi government’s online registration information system.
How to calculate property value based on the circle rate?
Property value in Delhi can be calculated using the formula: Build up area of the property in sqm X circle rate for the area in Rs per sqm.
What is the circle rate of Category C in Delhi?
The cost of residential construction is Rs 13,920 per sqm, while the cost of commercial construction is Rs 15,960 per sq.m.
Who decides the circle rate for Delhi?
The Delhi government determines the circle rates for different localities by classifying them into eight categories.
How does circle rate differ from market rate?
Circle rates are determined by the state government as the minimum value of a property in a locality. Market rates are determined by the seller and is typically higher than the circle rate.
How are circle rates in Delhi calculated?
Circles rates are calculated after considering several factors, such as the property’s location, amenities in the vicinity and property usage.
| 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 |
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.
