What Are the Current Circle Rates in Lucknow?

Current Circle Rate in Lucknow 2023

Here is the circle rates list for different areas in Lucknow in 2023:

Area	Circle Rate (per sq. m.)
Subhash Marg Medical College to Charbagh Tiraha	Rs.31,000
Telibagh Nagar to PGI Nagar Nigam limit	Rs.31,000
Guru Govind Singh Marg Hussainganj Chauraha to Naka Chauraha	Rs.31,000
Charbagh Station to Awadh Hospital	Rs.55,000
Kaiserbagh Chauraha to Charbagh	Rs.55,000
Singar Nagar Chauraha to Hydel Chauraha	Rs.55,000
Mahatma Gandhi Marg	Rs.76,000
Hazratganj Chauraha to Kalidas Marg Chauraha	Rs.76,000
Vibhuti Khand	Rs.40,000
Faziabad Road	Rs.36,000
Edelco Green, Vipul Khand	Rs.39,500
Vijay Khand, Vipin Khand, Vishal Khand	Rs.33,500
Gautam Palli, Gulistan Colony, Transport Nagar	Rs.28,000
Rana Pratap Marg	Rs.29,000
Gomti Nagar Phase 3, Gomti Nagar Extension, and more	Rs.30,500
AP Sen Road	Rs.26,000
Park Road, Mahatma Gandhi Marg, and more	Rs.27,500
Gautam Budh Marg, Charbagh	Rs.25,000
Ashiyana, Jiyamau, Srijan Vihar Colony	Rs.22,000
Saket Palli, Pirpur Square, Bandriya Bagh, and more	Rs.22,500
Darbari Lal Sharma	Rs.21,500
Raibareli Road Yojna, Aishbagh, Eldeco, and more	Rs.19,000
Havelock Road, La Martiniere Colony, and more	Rs.20,000
Guru Nanak Market, Vrindaban Yojan	Rs.21,000
Marutipuram	Rs.19,500
Omaxe City, Alambagh	Rs.16,000
Chinhat village to Satrikh	Rs.14,000
Sultanpur Road and Shaheed Path	Rs.25,000
Hardoi Road	Rs.20,000
Chinhat village limit to Lucknow city limit	Rs.30,000
Sitapur Road	Rs.39,000
Sushant City, Sector F to I	Rs.15,000

 

How to Calculate Property Value in Lucknow Using the Circle Rate for Stamp Duty Payment?

To calculate the property value in Lucknow for stamp duty payment, you need to multiply the per square metre circle rate by the built-up area of the house. For example, if the property covers an area of 800 square metres and the circle rate is Rs 6,500 per square metre, the property's value would be Rs 52 Lakh. To determine the stamp duty, multiply the property value by the applicable percentage (8% for a man, 7% for a woman). Additionally, there is a registration charge of Rs 60,000. This method allows you to accurately calculate the property value in Lucknow and calculate the stamp duty based on the circle rate.

Stamp Duty for Agriculture Land

Stamp duty for agricultural land involves submitting the paid stamp duty as a legal document and completing the registration process. In Uttar Pradesh (UP), buyers must pay a 7% stamp duty on the transaction cost.  It's important to note that properties cannot be registered below the circle rates set by the government. Even if the property is registered below the circle rate, the buyer must still pay the applicable amount calculated based on the circle rate.

Registry Charges in Lucknow

In Lucknow, registration charges are an essential component of property transactions. This charge is levied to register the property in the government records and transfer the title to the buyer's name. The registration charge is calculated as a percentage of the property value. The table below details the registration charges for different ownership scenarios in Lucknow.

Owner	Registration Charge (%)	Registration Charge (in Rupees)
Man	1%	Rs 10,000
Woman	1%	Rs 10,000
Man + Woman	1%	Rs 10,000
Man + Man	1%	Rs 10,000
Woman + Woman	1%	Rs 10,000

 

What Are Factors on Which Circle Rates Depend?

The circle rate in Lucknow varies based on the following factors:

Market value: Typically higher than circle rates.

Usage: Commercial properties have higher rates than residential.

Amenities/Facilities: Developed facilities affect rates.

Property Location Posh neighborhoods have higher rates.

Form of Construction: Private properties have higher rates than government ones.

Areas are divided into groups (A to H) based on these factors, with category A having the highest values and opulent facilities, while category H represents areas with lower values.

What Is the Impact of Circle Rates on Taxation in Up or Lucknow?

Circle rates play a crucial role in property taxation in Lucknow, as they determine the property's minimum value for taxation purposes. Here how circle rates can lead to increased tax benefits for property buyers and sellers.

•  Income Tax Act:

Section 56(2)(x) states if a property is purchased below the approved price, the difference between the circle rate and the actual purchase price is considered 'other income' and subject to capital gains tax.

• Compliance:

It is advisable to carefully review the circle rates for various areas in Lucknow to ensure proper tax compliance when involved in property transactions.

• Government Decision:

In the Union Budget 2020, the government decided not to impose additional tax liability when the difference between the circle rate and market value is below 10%.

Conclusion

As the circle rates vary based on factors, such as property size, location, amenities, and usage. One can calculate the property value for stamp duty payment by multiplying the circle rate with the property area. Additionally, knowing the registration charges is essential for completing property transactions. Circle rates also impact taxation, and it's crucial to comply with the regulations to avoid additional tax liabilities. Overall, staying informed about circle rates in Lucknow ensures accurate property valuation and a smooth mortgage loan process.

FAQ

• What is the rate of UP Land Registry?

 The rate of UP Land Registry is determined based on the value of the property being registered. It varies depending on the specific property and its transaction cost

• What is the commercial registry rate in Lucknow?

 The commercial registry rate in Lucknow is determined based on the property type and its intended commercial use. It is generally higher than the registry rate for residential properties.

• What is circle rate limit?

 The circle rate limit refers to the minimum value set by the government for property registration. It is the threshold below which a property cannot be registered. The circle rate limit varies based on the location, type of property, and other factors determined by the government.