Budhwar Peth is a prominent commercial locality in Pune known for its bustling shops. The neighbouring areas have schools, hospitals and other facilities, making this an ideal residential location. If one is looking to buy a property in Budhwar Peth, understanding the circle rates will provide a fair understanding of the market and help make an informed decision. During property registration, a buyer must pay stamp duty and registration charges based on the circle rates or the market rates at which the transaction took place, whichever is higher.
See also: Circle rates in Shivaji Nagar, Pune
What are circle rates?
Circle rates, also referred to as ready-reckoner rates in Pune, are the property rates fixed by the Maharashtra government for a specific locality based on several factors:
- Location: Circle rates in expensive localities would be higher than other localities.
- Property usage: Property rates vary based on the usage. They may be lower for residential properties compared to commercial properties.
- Amenities: Infrastructure and other facilities in an area influence property values.
- Property age: The circle rates may differ based on the age of the structure.
Circle rates in Budhwar Peth
| Area | Ready-reckoner rates for residential spaces (Rs per sqm) | Ready-reckoner rates for office spaces (Rs per sqm) |
| Budhwar Peth | Rs 53,350-69,110 | Rs 82,670-Rs 1.39 lakh |
How to check circle rates in Budhwar Peth?
- To check the circle rates in a locality, visit the official IGRS Maharashtra website of the Department of Registration and Stamps,
- Click on e-ASR under Online Services.
- Click on Pune on the map.
- Select the taluka and village to view the details.
Circle rates in Budhwar Peth: Commercial and residential real estate trends
Budhwar Peth is a well-developed neighbourhood in Pune. The area is known for its electronic shops and famous temples. It is a commercial destination with good connectivity to other parts of the city. The Budhwar Peth metro station is part of the upcoming Pune metro, which will provide enhanced connectivity. The locality has witnessed a significant demand for residential properties, including rental properties. There has been a significant price appreciation in the last year.
Reasons to invest in Budhwar Peth
- Budhwar Peth is a well-developed commercial locality with several shops and commercial spaces.
- The area enjoys good connectivity through the There is an upcoming metro station, which would boost connectivity.
- There are parks and other social infrastructural facilities.
FAQs
How to find out ready-reckoner rates in Pune?
The circle rates in Pune can be found on the official IGRS Maharashtra website of the Department of Registration and Stamps, Maharashtra.
Which factors impact the ready-reckoner rates in Pune?
Ready-reckoner rates in Pune are determined by several factors, such as property location, usage, amenities in the locality and market value.
Can circle rates in Pune be higher than the property’s market value?
The market rate, which is the actual price for a property transaction, is generally higher than the circle rate.
Are circle rates different from market rates?
Circle rates are set by the local government, which refer to the minimum property value in an area. Market prices are the actual price at which property transactions take place.
What are the stamp duty charges in Pune?
The stamp duty for men and joined ownership is 6%, while for women, the stamp duty is 5%.
| 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 |