Circle rates in Munirka, Delhi

Munirka is a well-developed residential and commercial hub in South Delhi. It is home to a diverse population, including professionals, students, and families. The area is well-connected to the rest of the city by road and metro. Munirka is also home to several reputed schools, colleges, and hospitals.

 

What are circle rates?

Circle rates, also known as ready reckoner rates or guidance values, represent the minimum prices at which properties can be registered in a particular locality. These minimum prices, established by the state government and periodically adjusted to reflect market trends, serve as a benchmark for determining stamp duty and registration fees. While circle rates typically lag behind the actual market prices, they provide a transparent and predictable framework for property transactions, ensuring a regulated market environment.

 

Circle rates in Munirka

The Delhi government has classified properties in Delhi into eight categories, ranging from A to H, to standardise and harmonise the property registration process across the city. The most affluent neighbourhoods in Delhi fall under Category A, whereas Category H includes areas with the lowest property values. Munirka falls into Category C of the Delhi government’s property classification system. This means that Munirka is considered an area with moderately high property values, compared to other areas in Delhi. The circle rate for Munirka is Rs 13,934 per square metre.

Circle rate per square metre	Residential construction cost per square metre	Commercial construction cost per square metre
Rs 13.934	Rs 21,960	Rs 25,200

 

How to Check Circle Rates in Munirka

One of the ways to check circle rates is to use the Delhi Online Registration Information System (DORIS)

1. Visit the DORIS website: https://doris.delhigovt.nic.in/
2. Under the “Citizen Services” section, select “Circle Rates.”
3. Choose “Munirka” from the “Locality” drop-down menu.
4. Select the appropriate “Deed Name” and “Sub-Deed Name” from the respective drop-down menus.
5. Enter the property details, including property type, sub-property type, consideration amount, and gender of the party.
6. Click on the “Calculate Circle Rate” button.

The system will display the applicable circle rate for the selected property type and location.

 

Factors Influencing Property Prices in Munirka

Several factors influence property prices in Munirka, including:

• Location: Munirka’s prime location in South Delhi, a sought-after residential area, plays a significant role in driving up property prices. The proximity to prominent landmarks, commercial hubs, and well-connected transportation networks makes Munirka an attractive residential choice.
• Connectivity: Munirka boasts excellent connectivity to other parts of the city via a robust road network and the Delhi Metro. This seamless connectivity enhances the convenience of living in Munirka, making it a preferred location for commuters and professionals.
• Infrastructure: Munirka’s well-developed infrastructure, encompassing schools, colleges, hospitals, and shopping malls, caters to the diverse needs of residents, particularly families. The availability of quality educational institutions, healthcare facilities, and shopping options adds to the neighbourhood’s appeal and contributes to its rising property values.
• Demand: Munirka consistently experiences a high demand for housing, fueled by its desirable location, connectivity, and infrastructure. This strong demand outpaces the supply of available properties, leading to an upward pressure on property prices.
• Culinary Experiences: Munirka offers a diverse range of culinary experiences, from traditional Indian cuisine to international flavours. The presence of renowned restaurants, cafes, and street food stalls adds to the neighbourhood’s charm and attracts residents who appreciate a vibrant culinary scene.
• Educational Institutions: Munirka houses several reputed educational institutions, including prestigious schools, colleges, and research centres. These institutions attract a diverse student population, contributing to the neighbourhood’s lively atmosphere and enhancing its desirability as a residential location.
• Public Attractions: Munirka is home to several public attractions, including parks, community centres, and cultural hubs. These spaces provide recreational opportunities, promote social interaction, and foster a sense of community, further enhancing the neighbourhood’s appeal.

 

Investment Potential

Munirka offers several factors that contribute to its strong investment potential:

• High Rental Yields: Munirka has a high demand for rental properties, making it an attractive investment option for buy-to-let investors. Rental yields in the area can range from 3 to 4 percent, which is higher than the average rental yield in Delhi.
• Capital Appreciation: Property prices in Munirka have been consistently appreciating over the years, making it a good option for long-term investors. The area’s strategic location, strong infrastructure, and growing demand are expected to further drive property prices in the future.
• Limited Supply: There is a limited supply of housing in Munirka, which is another factor that contributes to the strong demand and high property prices. This limited supply is likely to continue in the future, making Munirka an attractive investment destination for those seeking long-term capital appreciation.

 

Real Estate Trends in Munirka, Delhi

Munirka, a well-developed residential and commercial hub in South Delhi, has emerged as a promising investment destination in recent years. Strategically located in close proximity to major business districts and educational institutions, Munirka offers a blend of affordability, connectivity, and a vibrant lifestyle, making it an ideal choice for both homebuyers and investors.

 

Location and Connectivity

• Munirka is strategically located in South Delhi, close to major business districts, educational institutions, and transportation hubs. This makes it an attractive option for working professionals and students.
• Munirka is well-connected to the rest of Delhi by the metro, with the Munirka Metro Station on the Violet Line providing convenient access to other parts of the city, including major business hubs and shopping centres.
• The area is also well-served by roads, with the NH-10 passing through Munirka.

 

Residential Properties

• Munirka primarily comprises of builder floors and apartments, with independent houses constituting a smaller portion of the housing market.
• The capital values of residential properties in Munirka have witnessed significant appreciation over the past few years. The average property price in Munirka is around Rs 13,934 per square foot, as of November 2023.
• Munirka offers a wide range of residential options to suit different budgets and preferences. There are affordable flats available for first-time homebuyers, as well as luxury apartments and penthouses for those seeking a more upscale lifestyle.

 

Commercial Properties

• While predominantly a residential area, Munirka has also experienced notable developments in the commercial sector.
• The locality has witnessed an increase in the number of shopping malls, and a few hotels have been established as well.
• Sector 10 serves as a significant commercial area housing malls like D-Mall and City Center.
• Mangalam Place in Sector 3 stands as a substantial shopping arcade.
• Mangolpuri Market is another noteworthy business centre, focusing on companies dealing with marble and granite.
• The Avantika market in Sector 1 is Munirka’s largest market for shoppers, and each sector in the locality features its own market.

 

FAQs

What is Munirka famous for?

Munirka is famous for its affordability, connectivity, and infrastructure. It is a well-developed residential and commercial hub in South Delhi and is home to a large number of students and young professionals. The area is also known for its proximity to major business districts and educational institutions.

Is Munirka a good place to live?

Munirka is a good place to live for people who are looking for an affordable and well-connected neighbourhood. The area has a lot to offer residents, including a variety of shops, restaurants, and parks. It is also well-connected to the rest of Delhi by the metro and roads.

Is Munirka safe for students?

Munirka is a relatively safe area for students. The crime rate in the area is lower than the average for Delhi. However, it is still important to be aware of your surroundings and take precautions to stay safe.

Which zone is Munirka in?

Munirka is in the South Delhi Zone.

 

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