Get the Tata Capital App to apply for Loans & manage your account. Download Now

Blogs SUPPORT
Loans For You
Loans for Business
Investment
Insurance
Apply

Quick Links for loans

Quick Links for Insurance

Investment

Offers Quick Pay
Back

Equipment Finance

Avail Digital Equipment Loans
up to Rs. 1 Crore

  • Attractive ROIs
  • Customizable Loan tenure
Know More
Back

Equipment Leasing

Avail Leasing solutions
for all asset classes

  • Up to 100% financing
  • No additional collateral required
Know More
Back

New Commercial Vehicle Financing

  • First time user
  • Retail and strategic Clients
Know More
Back

Used Commercial Vehicle finance

  • Repurchase
  • Refinance
  • Top up
  • Balance Transfer
Know More

Circle Rate in MP

Madhya Pradesh's circle rates are crucial to the state's real estate landscape. They provide a benchmark for property valuations, facilitating transparent and fair transactions. Understanding the prevailing circle rates in MP is essential to determine the applicable stamp duty and registration charges when buying or selling a property.

Current MP circle rate list for 2024

The current circle rate of MP is as follows:

Circle rates in MP for commercial and residential plots in 2024

Circle rates vary significantly depending on the type of property. Commercial circle rates in MP are generally higher due to their potential for generating income and strategic locations, which are critical for businesses. On the other hand, circle rates for residential properties are typically lower and depend on factors such as the location, proximity to amenities, and overall demand in specific areas.

MP circle rates serve as the minimum price for properties, influencing your stamp duty and registration fee obligations.

Circle rates for agricultural land in MP

The state government fixes circle rates for agricultural land in Madhya Pradesh, which vary across regions depending on local agricultural practices and soil quality. Areas with fertile soil and favourable climates generally have higher circle rates, as these factors enhance agricultural productivity and profitability.

Additionally, the proximity to urban areas can further increase the circle rate, as agricultural land near cities often has the potential for development or commercial use.

Circle rates in MP according to age factor

The property's age is a significant factor influencing circle rates in MP. Newer properties generally have higher circle rates due to modern amenities, quality construction, and compliance with current building standards. Moreover, buyers may be willing to pay a premium for these properties as they require minimal renovation.

On the other hand, older properties typically have lower circle rates due to wear and tear, outdated designs, and depreciating market value. Additionally, they may require significant repairs or renovations, making them less appealing to buyers and reducing their circle rates.

How to calculate property value in MP using the circle rate for stamp duty payment?

Determining the value of a property in MP using the relevant circle rate can help you calculate the applicable stamp duty during property transactions. You can calculate the property's value using this formula:

Property Value = Circle Rate per square foot/meter × Total built-up area of the property.

Remember, the circle rate can vary depending on various factors, including the property's type, location, and age.

Formula for calculating property value

The formula for calculating property value using the circle rate for Madhya Pradesh is-

Property Value = Circle Rate per square foot/meter x Total built-up area of the property

What does the circle rate in MP depend upon?

MP circle rates depend upon several critical factors, including the property's location, type, and age. Due to increased demand, properties in areas well-connected to major roads, transport facilities, and urban amenities typically have higher circle rates. Properties in remote or less developed regions generally have lower rates.

Similarly, commercial properties have higher circle rates than residential and agricultural properties due to their high income-generating potential. Additionally, if a property is a new construction, it will have a higher circle rate due to modern infrastructure, better amenities, etc. On the other hand, older properties may require significant repairs or renovations, which lowers their demand and, thus, reduces their circle rates.

Age factor and its impact on circle rates in MP

The property's age in MP significantly impacts its value in the real estate market. Newer properties generally have higher circle rates due to their modern designs, latest amenities, etc. Moreover, buyers often prefer new constructions as they require less maintenance, enabling developers to sell these properties at a premium.

In contrast, older properties have lower circle rates due to wear and tear, outdated facilities, and high maintenance requirements. This can discourage buyers from investing in them, lowering their market value.

Understanding the significance of circle rate in MP for real estate transactions

The circle rate in Madhya Pradesh is a critical factor in real estate transactions as it serves as a benchmark for property valuation and stamp duty calculations. It provides the minimum price at which properties can be registered, ensuring transparency for both buyers and sellers. It is crucial to understand circle rates before investing in a property in MP as they influence stamp duty and registration fees, impacting the overall cost of the transaction. MP circle rates also determine the home loan eligibility and maximum loan amount the buyer can borrow.

What our customers say about us

Service provided by Manoj Patel in Surat vesu Branch was helpful and because of his support we were able to close loan.

Prakash Patil

Home Loan | 23 Aug, 2024

Excellent A1 Services. The Lady at the Customer Desk is very Cooperative and helpful so that my work completed without the time frame. The name of the Lady is Amruta Pathak. God bless her and her family. Thanks and Regards for the entire team of Tata Capital.

Nandlal Lal Arora

Home Loan | 13 Aug, 2024

Very good & prompt service, and we have spoken to Mr. Manish also, and he always helps us to provide our request. Thank you, Ms Apurva Shende & Manish Padwal

Farhang Ahmed Azar

Home Loan | 24 Jul, 2024

I'm happy with the service and the help I got earlier for foreclosure letter. Thank you so much & thanks to Alisha mam for her guidance.

Akshay Anil Pawar

Home Loan | 17 Jul, 2024

Special thanks to Mr. Avinash for his help rendered with full commitment to his job, answering the queries to me clearly, and follow up so that the work is done in given time to get customer satisfaction.

Hannah Grace

Home Loan | 02 Jul, 2024

Mr Avinash who handled my case is well experienced and has courtesy for customers' concerns. However, some of the Tata Capital products are very expensive when compared to other banks' ones!

Mohammed Shakeel Urrahman

Home Loan | 28 Jun, 2024

Start to end of my loan process was simple and guidance of your team members were to the point. My last communication was with Mr. MANOJ PATEL from surat branch he was very polite and helpful.

Anamika Vijaykumar Tiwari

Home Loan | 20 Jun, 2024

We extend our heartfelt gratitude to Mr. Pravin Sagare, Senior Officer of Customer Service, for his exceptional service. His remarkable demeanor and professionalism during telephonic interactions with customers have been truly outstanding. Over the past two years, we have utilized various services, yet none have matched the quality provided by Mr. Sagare. We are deeply impressed by the exemplary service, due to this reaons we has influenced our decision to obtain a second home loan from TATA Capital Housing Finance Limited.

Avinash Vasantbhai Bhesaniya

Home Loan | 07 Jun, 2024

I had applied for a home loan at Tata Capital & got the it approved quickly. The process was smooth and sanctioned with sufficient amount with tenure period of 20 yrs.

Sumeet Verma

Home Loan | 14 Mar, 2022

Read All

Home Loan Blogs

Home Loan
Home Loan
What are Conversion Charges for Home Loans?
26 November, 2024
Home Loan
Home Loan
Monthly Reducing Balance Method: Simplifying Loan Interest
25 November, 2024
Home Loan
Home Loan
Jami Tripura – A Digital Platform for Tripura Land Records
06 November, 2024
Home Loan
Home Loan
Things to Know About Telangana Land Records Online System – Dharani
06 November, 2024

Related Housing Loan Videos

Home Loan
#homeloan

Know more about Home Loans

Looking for a bungalow or an apartment? With Tata Capital Home loans, find a dream home and make it your reality. Ab aapke sapnon ka ghar aapke naam! 

0:50
HL EMI

Calculate Home Loan EMI within seconds

1:00
HL repayment

Home Loan Repayment Guide

0:59
Quick Links
Our Subsidiaries
Our Other Websites

Useful Links and Resources

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Policies, Codes & Other Documents

Most Important Terms & Conditions - Home Loans

Download in your preferred language

Download

Tata Capital Solutions & Services

Copyright © 2024 Tata Capital Limited

Uh oh, something went wrong

Please try again later.

thankyou

Thank you for subscribing

We will send news and updates to your registered email ID

Beware of Frauds!

For any assistance, contact our customer support

OTP Failure

Your OTP could not be sent. Please try again.

OTP has been sent

OTP Expired

Your OTP has been expired. Please try again.

Did not receive OTP?

Get OTP via call
offers-icon

rahul.sharma@gmail.com

Looking for offers...

loader
Chat
tia-chatbot tia-chatbot-mobile Ask TIA